MAY 19TH, 2017
ST Engineering Announces Leadership Changes
Singapore, 19 May 2017 – Singapore Technologies Engineering Ltd (ST Engineering) today announced senior leadership changes, to be effective 1 July 2017.
After 17 years with the Group, Lee Fook Sun, Deputy CEO and President of Defence Business, has decided to retire. Fook Sun has been a significant contributor to the growth of the Group through the key positions which he has held over the years, including as President of ST Electronics from August 2009 to December 2016. He played a pivotal role in driving the many successes of the Electronics sector, including preparing the business for its next phase of growth in the digital economy and growing the sector’s profits before tax by 80% in seven years to cross $200m in 2016. One of his leadership highlights is pushing the Group into the global space industry, with TeLEOS-1 earth observation satellite now orbiting the equator and TeLEOS-2, a more capable next generation earth observation satellite currently in development.
Ravinder Singh will be appointed as the Group’s President of Defence Business, in addition to his current role as President of ST Electronics.
Eleana Tan Ai Ching will relinquish her role as the Chief Financial Officer, a position she has held since March 2008 and be appointed as the Chief Corporate Officer. In this newly created role, Eleana will have functional responsibilities for IT, Procurement as well as Estate and Facilities Management. She will also provide oversight of the Group’s corporate shared management services set up in late 2016 to leverage group scale and synergies.
Cedric Foo, who is Advisor (Corporate Development) of the Group since October 2016, will be appointed as the Chief Financial Officer. He brings to the Group extensive experience in finance and corporate planning in the maritime and transportation industries. He had previously served as Chief Financial Officer and in senior management roles in large-cap companies, and was also Chairman of JTC Corporation (2008 – 2012) and SPRING Singapore (2003 ‐ 2007). In his new role, he will oversee the Group’s financial health and performance, and at the same time support the Group’s growth strategy.
The Chief Financial Officer, Chief Corporate Officer and President of Defence Business will report to the President and CEO.
“I thank Fook Sun for his significant contributions to the Group and wish him well in his retirement,” said Vincent Chong, President & CEO. “We have benefited from Eleana’s financial expertise and discipline, and I am glad that we can continue to leverage on her in-depth knowledge of the organisation. I also look forward to having Ravi and Cedric in their new roles.”
“As the Group strives for long term sustainable growth and value creation, we will continue to evolve the roles of our senior leaders to strengthen our leadership bench and capacity. The changes announced today reflect our continuous drive to meet these objectives.”