Piyush Gupta to be appointed Keppel chairman as Danny Teoh retires

[SINGAPORE] Keppel on Thursday (Feb 5) announced that former DBS chief executive officer and Temasek India chairman Piyush Gupta will be appointed chairman on Apr 17.

He will replace Danny Teoh, 70, who will retire after the company’s annual general meeting (AGM) on Apr 17.

Gupta, 66, was appointed as Keppel’s deputy chairman and non-executive independent director in July 2025. He is currently also a member of Keppel’s Nominating, Remuneration and Board Sustainability and Safety Committees. He will continue to serve in these committees.

“Since joining the board last July, Piyush has provided valuable advice in the sharpening and execution of Keppel’s strategy,” said Keppel CEO and executive director Loh Chin Hua. “The board and management look forward to Piyush’s leadership and guidance as we accelerate Keppel’s transformation.”

Gupta served as the CEO of DBS for 15 years, from 2009 until March 2025. The bank’s shares climbed nearly 270 per cent under his leadership, during which he led its digital transformation and implemented structural changes.

He was appointed as the Temasek India chairman in an advisory capacity last December.

Outgoing chairman Teoh presided over the Keppel board while the company divested its offshore and marine business. It went from an industrial conglomerate into an “asset-light global asset manager and operator, focused on infrastructure, real estate and connectivity”, said Keppel.

Keppel said that from January 2022 to end-2025, it delivered total shareholder returns of 288.9 per cent, compared with the Straits Times Index’s 80.5 per cent returns. The company’s share price also more than tripled during Teoh’s chairmanship, noted Keppel.

Teoh said: “It has been an exciting journey over the past 15 years, as Keppel weathered the downturn in the offshore and marine sector, as well as the Covid-19 pandemic.”

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Shares of Keppel rose 0.6 per cent to close S$0.06 higher at S$10.95 on Wednesday.