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SEMBCORP Marine yesterday announced a leadership change with old stalwart Tan Kwi Kin retiring next month as group president and chief executive officer, and chief operating officer Wong Weng Sun assuming the two roles.
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| Change of guard: Mr Tan (above) will retire next month as group president and CEO after 43 years with the company. COO Wong Weng Sun (next) will be taking over. |
Mr Tan, 70, will be appointed senior adviser and remain on the board, continuing to provide advice to the board and management.
The handover is not unexpected as most of the recent results briefings have been led by Mr Wong in what was seen as an indication of things to come.
Mr Wong, 47, joined the shipyard as an engineer in 1988 and worked his way through the ranks, having also served as deputy president. He will inject new blood at the top of SembMarine and will also be appointed as a director.
SembMarine chairman Goh Geok Ling thanked Mr Tan for his contributions and said: 'Mr Tan's strong leadership has steered the Sembcorp Marine Group to greater heights. The strategies that have been put in place for the last five years and the group's research and development in implementing rig technologies have paid off.
'More importantly, Mr Tan has put in place a successor and personally mentored him for many years. He laid a solid foundation of strong fundamentals which I am sure Weng Sun will continue to build upon to bring the company to the next level of excellence.'
On the succession, Mr Tan said: 'The economic conditions ahead of us are challenging. Having witnessed and weathered several economic down-cycles since joining the company 43 years ago, I believe Sembcorp Marine has proven its resilience.
'I am glad that the board has appointed Weng Sun as my successor. He has proven himself to be a man of integrity and ability - a technically competent, production-oriented and hands-on leader who cares for the welfare of the employees. Being young, IT- savvy and proficient in new technology, he is well poised to lead the group into its next phase of growth.'
Mr Wong said: 'I am grateful to my mentor Mr Tan, who has been the group president and CEO of Sembcorp Marine since 1999. An engineer at heart, Mr Tan is frugal, humble, yet visionary and a good boss to work with. He patiently guided and supported me for the past 20 years, sharing with me his work ethos, philosophy and, most importantly, his business acumen.'
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