NRF Chevron Centre

2024 Speakers


Elaine Heng

Deputy Group Chief Executive Officer

Ms. Elaine Heng is both Chief Executive Officer for Retail Business and Deputy Group Chief Executive Officer at FairPrice Group (FPG). FPG comprises NTUC FairPrice, NTUC Foodfare, Kopitiam, and NTUC Link. As Deputy Group CEO of FPG, Elaine supports the Group CEO in driving key strategic initiatives across the group to leverage and synergise the different business units and functions. Currently, FPG has a footprint of close to 570 consumer touchpoints, employs over 14,000 staff, and has an annual turnover of over $4.5 billion. In her role as CEO of Retail Business, she oversees the overall business, strategy, management, and success of the Co-operative’s retail business comprising FairPrice supermarkets, hypermarkets, e-commerce platforms, pharmacies, and convenience stores across ten banners. Adopting customer-centricity, operational excellence and data-driven performance in rethinking retail, she has been instrumental in transforming FairPrice’s business model and ensuring its pole position in the industry. 

Under her leadership, she introduced new and relevant retail concepts, blending cooked food and groceries at FairPrice Xtra outlets in Vivocity, Parkway Parade, and a few other heartland stores. She also introduced many firsts, including FairPrice on Wheels to bring groceries to the community during the pandemic, Freshmart, and Finest Gourmet to cater to different customer segments. Fairprice also introduced an unmanned Cheers convenience store that leverages Artificial Intelligence to provide enhanced convenience to customers. 

In addition, Elaine led the milestone project on behalf of FPG and NTUC Enterprise to launch digital banking (Trust Bank) into the suite of offerings for the group. Trust now banks more than 10% of Singapore's population within 9 months of launch.  Prior to joining FairPrice Group in 2017, Elaine was a banker, with more than 20 years of retail banking and wealth management experience. 

For her contributions to the industry over the last few years, Elaine was named CEO of the Year (Asia Pacific) 2023 by Retail Asia.

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