Singapore, 2 August 2016 – Singapore Technologies Engineering Ltd (ST Engineering) today announced the following change of Chairman at its subsidiary, Singapore Technologies Marine Ltd (ST Marine), with effect from 1 September 2016:
(1) Mr Barry Desker will step down as Director and Board Chairman of ST Marine;
(2) Mr Lim Ah Doo, an independent non-executive Director of ST Engineering and Director of ST Marine, will succeed Mr Desker as Chairman of ST Marine.
Mr Desker, who served as ST Marine Board Chairman since 2000, has guided the Company through different stages of growth, with revenue now standing at about $960m in 2015, compared to about $360m in 2000.
“On behalf of the Board of Directors and the Management, I would like to acknowledge Barry’s invaluable contributions to the ST Marine Board. We wish him all the best,” said Mr Kwa Chong Seng, Chairman of ST Engineering. “We welcome Ah Doo to his new role and look forward to his counsel and oversight of the ST Marine Board.”
“On behalf of the Management, I sincerely thank Barry for his advice and guidance over the years. We also look forward to working with Ah Doo as the new Chairman of ST Marine,” added Mr Tan Pheng Hock, President and CEO of ST Engineering.
ST Engineering (Singapore Technologies Engineering Ltd) 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 $6.34b in FY2015 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore and the SGX Sustainability Leaders Index. 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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