Honestbee announces changes to management team, including new COO

In an interview with The Straits Times earlier this month, Honestbee chief executive Ong Lay Ann said that appointing a new finance head and restructuring the management team were among the firm's priorities.
In an interview with The Straits Times earlier this month, Honestbee chief executive Ong Lay Ann said that appointing a new finance head and restructuring the management team were among the firm's priorities.ST PHOTO: CHOO YUN TING

SINGAPORE - Distressed start-up Honestbee has introduced a host of changes to its management team, as the company continues its restructuring efforts.

The appointments were effective as of Oct 1, 2019, Honestbee said in a statement on Friday (Oct 18).

In an interview with The Straits Times earlier this month, Honestbee chief executive Ong Lay Ann, 46, who took over the reins in mid-July, said that appointing a new finance head and restructuring the management team were among the firm's priorities.

One of the key changes announced on Friday was the appointment of a new chief operating officer, Mr Varian Lim, 40.

Mr Lim, who joined the firm in 2015, was previously its chief of staff.

He is in charge of implementing better business practices and securing the functionality of Honestbee's business for sustainable growth, the firm said.

Mr Lim Yiak Tiam, 43, a chartered accountant, was appointed vice-president for finance. He joined the company in September as interim chief financial officer before his recent appointment, where he is responsible for several functions including audit and accounting.

 
 
 
 

Mr Ong had said earlier: "Part of the issues we had previously was that internal processes weren't done well. When you build a company to a certain scale, if you don't actually have your proper processes and systems, you're just going to collapse like a house of cards."

He noted that processes like inventory management systems and checks and balances were integral to the grocery business, and that these were measures he was looking to have in place with a refreshed management team.

He also said that Honestbee was looking externally to hire in areas where it did not have the right talent, and identified the finance department as one such area.

Other additions to the team included vice-presidents for corporate strategy, regional growth, and Honestbee's physical retail store Habitat.