Mr Png Cheong Boon, 38, who has been deputy chief executive since he joined Spring in July 2003, becomes acting chief executive.
He takes over from the departing chief executive, Mr Loh Khum Yean, 43, who is joining the Ministry of Trade and Industry as a deputy secretary with immediate effect.
Spring is the enterprise development agency for growing innovative companies and fostering a competitive small and medium-sized enterprise sector.
It helps enterprises in financing, management development, technology and innovation.
It also assists them in gaining access to overseas markets.
Mr Loh, a former Public Service Commission scholar who obtained a master's degree in public administration from Harvard University's John F. Kennedy School of Government in 1996, joined Spring in October 2003.
He has been credited with spearheading Singapore's active participation in international standards development efforts.
This article was first published in The Straits Times on May 1, 2008.
