Peter Seah stepped down as chairman of the National Wages Council (NWC) on August 19, 2026, citing personal reasons after leading the council since 2015 [1, 2, 3, 4, 5]. Hsieh Fu Hua, who was appointed deputy chairman on August 7, 2026, assumed the chairmanship immediately with the Ministry of Manpower accepting Seah’s resignation after careful deliberation [1, 2, 3, 4].
Seah, 79, is also chairman of DBS Bank, Singapore Airlines, LASALLE College of the Arts, and a member of the Council of Presidential Advisers since 2021 [2, 5]. Under his leadership, the NWC navigated key challenges including the COVID-19 pandemic and maintained the tripartite consensus on wage policies that supported workers and economic development, the Ministry of Manpower said [2]. The ministry added that Seah's experience in building consensus among diverse stakeholders will be valuable for the council’s upcoming deliberations on wage guidelines [2].
Hsieh, 75, chairs the National University of Singapore Board of Trustees and serves as a director on the GIC board [1, 2, 3, 4]. He has also served as president of the National Council of Social Service, CEO of Singapore Exchange, and president of Temasek Holdings [1, 2, 3, 4].
DBS Bank is planning a succession for Seah as its chairman, a position he has held for more than 16 years [5].
The National Wages Council will convene on August 19, 2026, to develop wage guidelines for the period from December 1, 2026, to November 30, 2027 [2]. This session will be led by Hsieh in his new role as chairman.
