DBS Group (D05) Investor update summary

Leadership transition announcement

• Su Shan (Tan Su Shan) promoted to Deputy CEO and will succeed as CEO after the March 2025 AGM, following Piyush's retirement.

• The board's decision was unanimous, recognizing Su Shan for her strong business acumen, leadership, and deep involvement in digital transformation.

• Su Shan is the first homegrown leader to be appointed CEO, reflecting the success of internal talent development.

• The transition period will last 7-8 months, with Su Shan shadowing Piyush and taking increasing ownership of strategic areas.

• Appointment follows a decade-long succession process with rigorous internal and external benchmarking.

Strategic priorities and vision

• Su Shan outlined four guiding principles: culture, customers, collaboration, and continuity.

• Commitment to maintaining a customer-centric, collaborative, and purpose-driven culture.

• Emphasis on adapting to market volatility, technological change, and leveraging generative AI.

• Scorecards and targets will continue as part of established management rituals, with updates to be shared when ready.

• Focus on deepening engagement with technology and tech resiliency initiatives.

Board and management continuity

• The board has been renewed, with more than half of its members under five years of tenure, ensuring ongoing stability.

• Chairman Peter Seah will remain to support the transition and continue talent development efforts.

• The management team is described as stable, close-knit, and largely homegrown, providing strong continuity.

• Collaboration across business units and with customers will remain a key focus.

• The leadership transition is designed to ensure minimal disruption and continued strategic momentum.