MobileOne Ltd (M1) today announced that Neil Montefiore, Chief Executive Officer of M1, has decided to step down as CEO and Director of M1, with effect from 1st February 2009. Mr Montefiore, who joined M1 in April 1996 and has served as its CEO since then, has indicated that he wishes to pursue other personal interests.

As part of M1’s succession planning and grooming, M1’s Chief Financial Officer, Karen Kooi Lee Wah, will be appointed Acting CEO in addition to her current duties, with effect from 1st February 2009. The appointment of Ms Kooi is subject to the IDA’s approval.

Kooi, a long-standing and experienced stalwart of M1, is a Fellow Chartered Certified Accountant with an MBA in Investment and Finance (Distinction) from Hull University UK. She joined M1 in August 1995 and is a key member of the senior management team. Prior to joining M1, Ms Kooi held various senior financial positions with large public listed companies such as Singapore Press Holdings, City Developments and Hai Sun Hup Group. Ms Kooi is currently a Director of M1 Net, M1 Shop Pte, Kliq Pte and Wireless Intellect Labs Pte, all entities within the M1 Group.

Montefiore said, “It has been my great pleasure and privilege to have been intimately involved with the inception and growth story of M1. This period has been a tremendous source of pride and satisfaction for me personally and professionally and I will treasure all the memories and experiences I take away from the more than 12 years of close association with M1.”

M1’s Nominating Committee will be mandated to commence an internal and external search to identify the best candidate for the position of CEO.