SPH appoints head for new Digital Division

SINGAPORE - 701Search Pte Ltd announced today that its Chief Executive Officer, Mr Julian Tan, would be departing from 701Search to return to one of its shareholders, Singapore Press Holdings Limited, to head its new digital division.

The process of finding Mr Tan's successor in 701Search has begun. Upon the appointment of the new CEO and successful handover, Mr Tan will depart from the Company. Notwithstanding his departure, Mr Tan will continue to maintain his links with 701Search as a shareholder representative on the Board of Directors of the Company.

Commenting on Mr Tan's impending departure, Mr Robert Steen, Chairman of 701Search said: "In the last six years, 701Search has experienced tremendous growth. This would not have been possible without Julian's skillful leadership and stewardship. On behalf of the Board, I would like to thank Julian for his dedication and never-ending hard work to grow the business of 701Search. While we will miss his presence, we also look forward to having Julian's contribution as a part of the Board. We are also grateful and certain that Julian will ensure a smooth transition to the new CEO that we now have started our search for."

Mr Tan joined 701Search as its CEO in August 2008 and has been the driving force behind the growth of the Company. Under Mr Tan's leadership, 701Search grew from a start-up in a single location to a regional company with a strong footprint in the Southeast Asian region today. The Company now operates leading and fast-growing online classifieds sites in Malaysia (Mudah.my), Vietnam (ChoTot.vn), Indonesia (Berniaga.com) and the Philippines (AyosDito.ph). This is a strong testament to the impressive force that 701Search has become in the last six years.

"My time at 701Search had been a very exciting and fulfilling six years. During this period, I had the opportunity to work with many talented individuals. Together, we built 701Search into one of the largest online classifieds companies in Southeast Asia. This success would not have come without the dedication and passion of the team. I am confident that this strong team will be able to strengthen 701Search's market-leading positions and bring it to the next level of growth. I would also like to express my appreciation to the Board and our shareholders for their support and trust in me all these years," said Mr Tan.

701Search has actively commenced its search for a new CEO and the Board of Directors will review potential internal and external candidates to succeed Mr Tan.