Southeast Asian tech major Grab announced on Thursday that its co-founder Tan Hooi Ling will be stepping down from her operating roles by the end of 2023 to assume an advisory role with the company.
Hooi Ling, who founded the company alongside Group CEO Anthony Tan in 2012, currently leads Grab’s technology organisation while mentoring technology leaders such as Grab’s Group Chief Technology Officer Suthen Thomas and Chief Product Officer Philipp Kandal.
“With the strong leadership bench we currently have, I believe now is the right time for me to pass on the baton to our next generation of leaders, and to pursue these other passions,” Tan Hooi Ling said in a statement.
Group CEO and Co-founder Grab Anthony Tan expressed his respect for his outgoing partner in the statement. “Ling has invested herself fully into setting up the right leadership bench and cultural foundations for Grab to thrive for the long term, and while I will miss working with her dearly, I thank her for the many years of trust and partnership, and wholeheartedly support her decision to pursue her personal passions.”
Hooi Ling will also give up her board directorship.
According to the statement, Nominating Committee of the Board will review potential candidates to supplement the board later this year.
Tan took part in helping Grab list on the Nasdaq after an initial public offering in December 2021. She led various operations and technology teams as COO until January 2022 when the company appointed Alex Hungate for the position.
Last week, the Nasdaq-listed company reported narrower losses for the first quarter of 2023 on the back of a reduction in expenses and the group’s adjusted EBITDA.
