Speaking with the Boards 2025
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Daryl Ng: Diverse expertise deepens resonance and growth
A proponent of board diversity, the Chairman of beverage giant Yeo’s believes the brand’s unique proposition is its ability to stay true and current to consumer’s changing palettes. “Diversity contributes to Yeo’s strategic aspirations.”
Originating from China’s Fujian province, where it was founded in 1900, Yeo’s flourished in pre-war Singapore, becoming a household name for its condiments and beverages. The first in the world to package its drinks in Tetra Brik cartons, Yeo’s customer reach now spans the Asia-pacific, Europe, North America and Oceanic regions. The brand’s unique proposition, says its Chairman Daryl Ng, is its ability to stay true and current to consumer’s changing palettes. “Diversity contributes to Yeo’s strategic aspirations,” he adds.
An advocate for sustainability and heritage preservation, Ng is also Deputy Chairman of Hong Kong property conglomerate Sino Group. The eldest grandson of property tycoon Ng Teng Fong credits his family for instilling core values that guide his numerous professional and community undertakings that range from green initiatives to youth development. A proponent of board diversity, he believes diversity and expertise go hand in hand.
Heritage brands pull on the heart strings yet need to engage new generations. Is finding a balance between tradition and change challenging?
I’d say our approach preserves the heart of our heritage while strengthening our ability to connect meaningfully with new consumers. Rooted in Nourishing Asian Goodness and with more than a century of history, Yeo’s treasures the values we uphold: Good nourishment for the community, the resilient Asian spirit, hard work and ingenuity.
The beautiful thing is that today’s consumers value authenticity and substance – qualities that are intrinsic to Yeo’s DNA and embodied by our signature products, such as chrysanthemum tea, soy milk, and curry chicken. We also appreciate the shift toward healthier and more sustainable lifestyles and have refreshed our offerings to cater to the demand, ensuring that we stay true to our principles while remaining relevant and engaging.
Yeo’s consumer base is as large as it is diverse. It must take very considered efforts to grow the company structure and culture in a way best suited to international growth and longevity.
We prioritise local knowledge and fostering connections with communities in markets we operate. Recognising the diversity of our consumer base, we hire local executives with rich market experiences in Singapore, Malaysia, Cambodia, Indonesia, and China. This knowledge enables us to connect culturally with our communities, retail partners, and consumers, gaining a better understanding of evolving consumer preferences and retail dynamics. And I’m happy to share that as of January this year, we have female general managers for our operations in Singapore and Cambodia, reflecting our commitment to diversity and inclusion.
To ensure that our leaders across geographies embody and promote a shared company culture, we emphasise our core values – One Team, Ownership, Integrity, Excellence, and Entrepreneurship – in everyday operations. This culture is reinforced through onboarding, culture training, and recognition programmes such as our GEM awards and YOU awards, which spotlight and reward exemplary behaviours aligned with Yeo’s values. By nurturing both local expertise and a unified culture, we better position ourselves for sustained growth and longevity.
Speaking about women leaders, we understand that Yeo’s has been very deliberate in ensuring it has a mixed-gender board. Can you tell us a little more?
We recognise that diversity and expertise go hand in hand. We aim to achieve a board that reflects a broad range of talents and perspectives. It enables us to address complex challenges and seize new opportunities. And in Singapore, there are many outstanding female talents holding senior positions ready for board directorships.
At Yeo’s, our women directors exemplify how diversity contributes to the firm’s strategic aspirations. Women directors also offer the perspective of mothers, who are often the primary household shoppers, thereby helping the board make better decisions that resonate with consumers on a deeper level.
It is also essential that we pivot the focus away from meeting a specific number of women on a board. And instead, prioritise having women for the significant benefits they bring. An effective board should consist of members with unique values, regardless of their gender and background.
When we appointed our first women director in 2017, it was a deliberate choice to identify skill sets and experiences to complement the existing board, and then we proactively approached talents from diverse backgrounds to create a dynamic candidate pool. Since 2022, a third of our board members have been women.
When the business intention is clear to incorporate both diversity and expertise, there need not be a trade-off between the two. For instance, independent and non-executive directors Ms Luo Dan and Ms Laureen Goi bring extensive business experience in food manufacturing and consumer goods, while Dr Lim Su Lin, currently Chief Dietitian at the National University Hospital, has played a pivotal role in setting a robust innovation agenda, particularly in the development of healthier products. They have contributed to the normalisation of a mixed-gender board, while enhancing Yeo’s ability to innovate and create value.
“Normalisation” is the goal.
It really is. Normalisation means that gender is not a focal point in evaluating contributions; instead, it’s the collective expertise, perspective, and ability to drive results that matter. A mixed-gender board at Yeo’s is simply the expected standard – a natural reflection of the diverse world we operate in. This approach fosters a more inclusive and effective board environment, where we work cohesively to create value and guide the company toward sustained growth.
I must add that normalisation is also rooted in the belief that talent, experience, and the right skill set are what truly matters. We are a meritocracy, where every employee has the opportunity to advance.
"When the business intention is clear to incorporate both diversity and expertise, there need not be a trade-off between the two. Our women directors have contributed to the normalisation of a mixed-gender board, while enhancing Yeo’s ability to innovate and create value."
A few from the Yeo’s board were first-time directors when they joined. What is the company’s training and onboarding programme like?
We provide onboarding, on-the-job exposure, and support for all new directors. This includes shadowing opportunities, where new directors gain insights by working closely with experienced board members, and onboarding sessions with key management personnel to develop a thorough understanding of our business operations and strategy.
We also offer membership to the Singapore Institute of Directors (SID), which offers a range of accreditation courses and networking. These resources help new directors build critical boardroom skills, strengthen their understanding of good corporate governance, and make informed, impactful decisions. Combining practical exposure with ongoing professional development, ensures board members are well-prepared to navigate the complexities of leadership and contribute to the company’s success.
This conversation was first published in Speaking with the Boards 2025, an accompaniment to Singapore Board Diversity Review 2025.
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