ComfortDelGro names group chief digital officer

Faced with disruptive headwinds which have been gathering strength since transport apps started appearing seven years ago, home-grown ComfortDelGro Corp has appointed a group chief digital officer.

The newly created position is filled by Ms Siew Yim Cheng, previously a global vice-president with Chinese energy start-up Envision Digital.

Ms Siew, 56, will be responsible for ComfortDelGro's "transformation roadmap and products", the transport giant said yesterday.

She will be overseeing both the traditional information technology and all digital transformation initiatives.

At her previous job, Ms Siew was responsible for leading the development of artificial intelligence, Internet of Things, and smart city products and solutions.

Before joining 13-year-old Envision in June last year, she was chief digital officer of JTC Corp for 11 months.

Ms Siew is one of several senior executives who have joined ComfortDelGro in the past two years as the company faces challenges from ride-hailing apps, on-demand buses and the eventual advent of autonomous vehicles.

The spate of hires represents a six-fold increase of similar-level recruitment over the previous two-year period.

With these, ComfortDelGro - a company which has enjoyed being the dominant player in the transport sector for decades - has expanded its senior management by 35 per cent.

ComfortDelGro chief executive Yang Ban Seng said: "As we expand and look at new avenues of growth, we have to ensure that we are well-equipped with the right skill sets.

"It doesn't matter where our talent come from, so long as they bring with them the right attitude and the right discipline to help grow the group."

He added: "ComfortDelGro is not a technology company dabbling in transportation.

"Rather, I see ComfortDelGro as a multi-modal mobility operator that boldly, creatively and persistently experiments, adopts and leverages innovative technologies to provide us with the competitive edge and new capabilities.

"We can learn from others to leapfrog where technology is concerned. We do not need to be first mover here."

Last Friday, ComfortDelGro reported a 12.6 per cent drop in earnings to $265.1 million for the year ended Dec 31 last year.

Meanwhile, the coronavirus outbreak has caused analysts to downgrade their forecasts for the group's 2020 performance, with RHB Research's 12 per cent cut being one of the most bearish.

ComfortDelGro's stock price yesterday ended nine cents lower to $2.09, its lowest in almost two years.