The president and chief executive of Singapore Technologies Engineering, Mr Tan Pheng Hock, is on medical leave after suffering a mild stroke. But he is making good progress in his recovery, the firm said yesterday.
Mr Tan, 58, who has led the integrated engineering group since February 2002, was admitted to hospital for observation. His medical leave could be about four weeks, pending a review of his condition.
Shares of ST Engineering gained one cent to $3.41, with 1.89 million shares traded.
"What is important is whether he can continue as chief executive, whether there is a proper succession plan, and whether his No. 2, if the time comes, is able to fill his shoes," remisier Desmond Leong said.
Prior to his current role, Mr Tan held the positions of group president, president and chief operating officer.
What's important is whether he can continue as chief executive, whether there is a proper succession plan,and whether his No. 2, if the time comes, is able to fill his shoes.
MR DESMOND LEONG, a remisier
He began his career with the group as an engineer in Singapore Technologies Marine in 1981 and, over the decades, he
advanced from one senior position to another.
In the interim, his executive duties and responsibilities are being covered by Mr Lee Fook Sun, deputy CEO, who will oversee the business functions, and Mr Vincent Chong, deputy CEO (corporate development), who will continue to oversee corporate functions.
ST Engineering reported revenue of $6.54 billion in the 2014 financial year and ranks among the largest companies listed on the Singapore Exchange.
It has about 23,000 employees and more than 100 subsidiaries and associated companies worldwide.