Singapore's Keppel Corp appoints new CFO (updated)
19/10/2023 12:43
(Updates with more details from paragraph 2 onwards)
Oct 19 (Reuters) - Singapore's Keppel Corp KPLM.SI said on Thursday it
has appointed Kevin Chng as its new chief financial officer (CFO), effective
Jan. 1, 2024.
Chng, who is currently the deputy CFO, will succeed Chan Hon Chew, who will
retire by the end of the year, after having served as the company's finance
chief for about 10 years, according to a statement by Keppel.
Chng is actively involved in the company's restructuring plan, announced in
May, when it said it would transform itself to become a global asset manager and
operator by dropping its conglomerate structure, the statement said.
Under Chan Hon Chew's leadership, Keppel sold its core offshore and marine
business to local peer Sembcorp Marine for S$4.5 billion ($3.28 billion) earlier
this year and privatized various operating units between 2015 and 2019.
Keppel logged a higher nine-month revenue and net profit earlier in the day,
boosted by factors including strong performance in its integrated power
business.
($1 = 1.3734 Singapore dollars)
(Reporting by Archishma Iyer in Bengaluru; Editing by Sonia Cheema)
((Archishma.Iyer@thomsonreuters.com;))