Singtel is making two management changes in the light of the challenges posed by digital disruption.
Mr Mark Chong - now the telco's international chief executive - will become the chief technology officer from April 1 next year. He will replace Mr Tay Soo Meng, who is retiring to take an advisory role.
At the same time, Mr Arthur Lang will take up the position of CEO International. Mr Lang, who was CapitaLand's chief financial officer, will join Singtel on Jan 9 before his formal appointment on April 1.
"Given our global aspirations, and a fast-evolving business and technology landscape, we are reinforcing our leadership team as we prime our enterprise for our next phase of growth," group chief executive Chua Sock Koong said when announcing the changes.
Mr Chong is a 20-year veteran at Singtel. He has held key positions such as networks executive vice- president in Singapore and chief operating officer at Thai associate firm Advanced Info Service.
His understanding of business and technology is something that Singtel will count on to strengthen its position in technology, Ms Chua said.
Before joining CapitaLand, Mr Lang was a banker at Morgan Stanley and the chief operating officer of its Asia-Pacific investment banking division.
"Arthur, with his international business and finance experience, is a strong addition to our management, as we continue to drive transformation at Singtel and push the company to the next level," Ms Chua added.
Singtel shares closed up 11 cents or 3.04 per cent at $3.73 yesterday after the announcement.
The counter had been falling as investors had sold down the telco sector following the United States election, partly because of concerns over the emergence of a fourth telecoms operator in Singapore.
But Singtel is commonly regarded as being the best positioned against a new domestic competitor, thanks to its strong overseas presence and firm hold on the infocomm technology service business. That arm generated $1.37 billion in operating revenue for the six months ended Sept 30, up 17 per cent from a year ago.