SIA Engineering Company's chief executive, Mr William Tan, 62, will retire on April 1 after 14 years at the post.

Mr Png Kim Chiang, 56, currently executive vice-president of operations, will succeed him as CEO.

Since Mr Tan took the helm in April 2001, SIA Engineering has emerged as a leading player in the Asia-Pacific for aircraft maintenance, repair and overhaul services, enjoying a significant increase in revenue and number of joint ventures, the group said in a statement filed with the Singapore Exchange.

During his term, Mr Tan successfully steered the group through some of its most challenging times, following the 9/11 terrorist attacks, the 2003 Sars epidemic and the 2008 global financial downturn, said chairman Stephen Lee.

Describing his years at SIA Engineering as a "long and enriching journey", Mr Tan said: "It is timely for me to hand over the reins to the next generation, under the leadership of Mr Png."

Mr Png, who joined Singapore Airlines in 1975, has garnered 40 years of experience in the aerospace industry. He has served in various senior management positions at SIA, and was appointed as SIA Engineering's senior vice-president of services in 2001.

MARISSA LEE