SINGAPORE - Suspended Ezion Holdings has reorganised its senior management team to strengthen the overall management structure, as the ailing mainboard-listed offshore and marine group struggles to stay afloat in an oil price slump that has hit the industry.
In a series of announcements last Friday (June 28), Ezion named two new key executives, whose appointments take effect on July 1. They are Eng Chiaw Koon, 57, as deputy chief executive officer (CEO), and Goon Fook Wye Paul as chief financial officer (CFO).
Mr Eng, who will jointly be the deputy CEO with Lee Kon Meng Peter, will assist the CEO in providing strategic management to the group's operations and be responsible for the group's execution of strategic and commercial plans, working with all functional units in ensuring business priorities and commercial obligations are met. Currently, he is a consultant to Ezion.
The 40-year-old Mr Goon will remain as joint company secretary after his title is re-designated as CFO from chief group business officer (CGBO). He will be responsible for the group's overall financial and corporate secretarial functions. After relinquishing the CGBO position, his responsibilities as CGBO will be assigned to Mr Eng as part of the latter's job scope as the deputy CEO.
Chong Chee Wei Alan, who is the acting CFO, will be re-designated as head of corporate finance. The 38-year-old will be responsible for the debt and equity raising activities as well as investor relations.
SEzion last traded at 4.3 cents before the group requested a trading halt on Feb 27. The trading status was converted to a suspension on March 1.