The chief executive of Singapore Airlines' (SIA) low-cost arm Scoot will return to its parent carrier, as the airline yesterday announced a reshuffle of top posts in a move seen as paving the way for its next generation of leaders.
In a bourse filing, SIA said Mr Lee Lik Hsin, who is currently Scoot's chief executive, will be promoted and will return to SIA as executive vice-president (commercial).
Mr Lee, 49, will oversee cargo, customer experience and marketing planning, as well as the sales and marketing divisions. He will also be responsible for the sales regions.
Mr Tan Kai Ping, 47, senior vice-president (marketing planning), will be promoted to executive vice-president (finance and strategy), where he will oversee the corporate planning and finance divisions.
Executive vice-president (commercial) Mak Swee Wah, 59, will assume the position of executive vice-president (operations), where he will be responsible for SIA's cabin crew, customer services and operations, engineering, and flight operations divisions.
Mr Lee, Mr Tan and Mr Mak will report directly to SIA chief executive Goh Choon Phong, 56.
The Straits Times understands that Mr Lee and Mr Tan now look to be the two in the running to eventually succeed Mr Goh as SIA's chief executive.
SIA senior vice-president (sales and marketing) Campbell Wilson, 48, will return to helm the airline's fully owned subsidiary Scoot, which he led till its merger with Tigerair. These changes take effect on April 1.
Mr Goh said in a statement yesterday: "With these appointments, we have further strengthened our management team and better positioned the group for the future."
SIA's executive vice-president (human resources and operations) Ng Chin Hwee, 59, will take early retirement from the group on March 31 and join SIA Engineering Company as its chief executive on April 1.
Mr Ng is taking over from Mr Png Kim Chiang, 61, who is retiring from his position as chief executive and will relinquish his directorship at SIA Engineering, while continuing as an adviser in the company.
Last Friday, SIA reported a 10.9 per cent increase in net profit for the third quarter to $315 million from $284 million a year ago.
This was on the back of a better performance by associates and joint ventures, it said. Group revenue for the quarter also rose 3 per cent to a record high of $4.5 billion, driven by initiatives from its three-year transformation plan yielding results as well as strong growth in passenger revenue, which grew 7 per cent due to robust traffic growth.
Expenditure for the group was up 1.7 per cent, or $68 million, to $4 billion, as a result of higher non-fuel expenditure. Operating performance across the group's companies remained stable, with improved performance from SIA and Scoot.
The group reported an earnings per share of 26.6 cents, compared with 24 cents a year ago. No dividend was declared for the period.