SINGAPORE - Telco StarHub on Monday announced the retirement of its chairman and non-executive director Mr Tan Guong Ching. Former chief executive Terry Clontz will succeed Mr Tan as chairman from Wednesday.
Mr Tan, 68, was first appointed to the board in 1998 and became non-executive chairman of StarHub in 2001.
During this time, Mr Tan steered StarHub through a merger with Singapore Cable Vision in 2002, and a listing on the Singapore Exchange in 2004.
Mr Tan said: "It has been an honour to serve as chairman of StarHub for the past 14 years. I have seen StarHub grow its revenue from S$778 million in 2001 to S$2.4 billion in 2014. When we went (for an) IPO (initial public offering), we were only a 95 cents stock. Today, our share price has appreciated by more than four times."
Mr Clontz, 64, is currently a non-executive director on the board. He joined StarHub in 1999 as its first president and chief executive, before retiring in 2010.
"Mr Clontz is a well-regarded veteran in the telecommunications and media industry with 42 years of extensive experience," StarHub said in a statement to the Singapore Exchange. During his 11 years at the helm of StarHub, Mr Clontz helped the firm become Singapore's second largest mobile operator in 2005, the same year that it became profitable.
Mr Clontz is also the senior executive vice president of North America and Europe operations at Singapore Technologies Telemedia and a senior corporate advisor to the Temasek Holdings International group. He is also a director of Virgin Mobile Latin America in the United States and PSA International. The announcement was made after the market closed.
StarHub shares closed 2 cents higher at S$3.96 on Monday.