[SINGAPORE] Hong Kong-based conglomerate Jardine Matheson Holdings on Thursday (May 29) announced the appointment of Lincoln Pan as chief executive-designate, as group managing director John Witt will retire from the company in late-November.
Pan is a partner, co-head of private equity and member of the group executive committee at alternative investment business PAG. He assumes the role of CEO at Jardine Matheson Holdings from Dec 1.
He previously served as CEO of Greater China at Willis Towers Watson and in executive roles at Advantage Partners and GE Capital. He also worked at McKinsey & Company.
Ben Keswick, executive chairman of the group, said: “Lincoln’s wealth of investment experience in the Asia-Pacific region and track record of working with company boards and management teams makes him extremely well-placed to lead Jardine and to implement our strategy to build bigger, better businesses over the long term.”
Witt, 61, has been with the Jardine Matheson Group for more than three decades and has served as group managing director at Jardine Matheson Holdings since 2020.
In this role, his key achievements include implementing leadership succession in the group’s key portfolio companies and overseeing the simplification of its corporate structure, Keswick said.
On Nov 30, Witt will step down from his roles at Jardine Matheson Holdings, DFI Retail, Jardine Cycle & Carriage (JC&C) and Astra; he will also give up his roles as a director and board chairman at JC&C, the investment holding company of the Jardine Matheson Group in South-east Asia.
But he will continue as chairman of property group Hongkong Land, which is 53 per cent owned by the Jardine Matheson Group.
The counter ended Thursday 2.2 per cent or US$1.00 higher at US$45.60, before the announcement.
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