Change - Announcement of Cessation::Mr Png Kim Chiang Retires as CEO of SIA Engineering Company

Issuer & Securities

Issuer/ Manager
SIA ENGINEERING COMPANY LIMITED
Securities
SIA ENGINEERING CO LTD - SG1I53882771 - S59
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
17-Feb-2020 17:20:40
Status
New
Announcement Sub Title
Mr Png Kim Chiang Retires as CEO of SIA Engineering Company
Announcement Reference
SG200217OTHRU6PX
Submitted By (Co./ Ind. Name)
Lu Ling Ling
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
SIA Engineering Company Limited (SIAEC) today announced the retirement of Mr Png Kim Chiang as Chief Executive Officer (CEO) of the Company with effect from 1 April 2020. Mr Ng Chin Hwee, who is a Non-executive Director on the Board of SIAEC and the Executive Vice President Human Resources and Operations of Singapore Airlines Limited, will succeed Mr Png as CEO on 1 April 2020. Please refer to the attached file for more information.

Additional Details

Name Of Person
Mr Png Kim Chiang
Age
61
Is effective date of cessation known?
Yes
If yes, please provide the date
01/04/2020
Detailed Reason (s) for cessation
Mr Png Kim Chiang will retire as CEO and Non-Independent Executive Director of the Company with effect from 1 April 2020. Upon his retirement, Mr Png will stay on as Advisor of the Company.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
01/04/2015
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
6
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer and Non-Independent Executive Director
Role and responsibilities
As above
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
i) 979,846 ordinary shares of SIAEC
ii) 273,440 SIAEC Performance Share Plan conditional share awards
iii) 168,200 SIAEC Restricted Share Plan (RSP) conditional share awards
iv) 147,115 SIAEC RSP final awards pending release
v) 66,843 deferred awards of SIAEC RSP shares
Past (for the last 5 years)
1. Chairman, Aviation Partnership (Philippines) Corporation
2. Chairman, NexGen Network (1) Holding Pte Ltd
3. Chairman, NexGen Network (2) Holding Pte Ltd
4. Director, Hong Kong Aero Engine Services Ltd
5. Director, Jamco Singapore Pte Ltd
Present
1. Deputy Chairman, Boeing Asia Pacific Aviation Services Pte Ltd
2. Deputy Chairman, Singapore Aero Engine Services Pte Ltd
3. Director, SIA Engineering (Philippines) Corporation

Attachments