30 September 2015, Singapore - ST Engineering today announced that Mr Tan Pheng Hock has informed the Board of his plan to retire as the President & CEO of ST Engineering next year. As part of the Group’s CEO succession plan, the Board has selected Mr Vincent Chong Sy Feng, Deputy CEO (Corporate Development), to succeed Mr Tan.
Mr Chong will be appointed as the President & CEO (Designate) with effect from 1 October 2015 and is expected to assume leadership of ST Engineering in about a year's time. In addition to his current responsibilities, Mr Chong will also oversee the Group’s four business sectors.
ST Engineering added that Mr Tan has resumed duties after his medical leave and will be working closely with Mr Chong to ensure a smooth leadership transition.
Succession planning at ST Engineering is an ongoing process and a key focus of the Board. An extensive search was initiated by the Board to shortlist potential internal and external CEO candidates to undergo a structured selection process. The Board is satisfied with the rigour of the CEO search process.
"The Board welcomes Pheng Hock back at the helm and Vincent as the incoming President & CEO (Designate),” said Mr Kwa Chong Seng, Chairman of ST Engineering. “We are confident that Vincent will continue the exemplary tireless work put in by Pheng Hock in leading ST Engineering on a growth path and towards organisational excellence. We look forward to Pheng Hock's continued mentorship of Vincent during this transition.”
Mr Tan, 58, took on his current role in early 2002, and over the years has been recognised as an outstanding corporate leader by Singapore Business Awards (2014), CNBC’s Asia Business Leaders Awards (2013) and Singapore Corporate Awards (2012).
Mr Chong, 45, joined the Group in April 2014 as President of Strategic Plans & Business Development, Singapore Technologies Aerospace Ltd (ST Aerospace). In December 2014, he assumed his current role as Deputy CEO (Corporate Development).
ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenue of $6.54b in FY2014 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index and MSCI Singapore. ST Engineering has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more information.
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