14 July 2009
Singapore , 14 July 2009 - StarHub Ltd announced today that Terry Clontz will retire as its CEO in January 2010, but he will continue as a Director with the Group. Succeeding him as CEO is telecommunications industry veteran, Neil Montefiore.
Terry, 58, joined StarHub in January 1999 as its founding President and CEO. He also serves as a Director on StarHub’s Board.
Said Terry: “It has been a privilege to lead the StarHub Group from inception to where we are today. I feel fortunate to have had a talented and dedicated team at StarHub, and the Board of Directors have been supportive in providing excellent counsel to management. I have thoroughly enjoyed the opportunity of working with the StarHub team and living in Singapore for more than 10 years. Info-communications is an exciting industry, so I intend to remain somewhat active in the industry; but I look forward to spending more time with my family.”
“I am leaving StarHub in good hands," added Terry. “Neil and I have known each other on a professional and personal level for ten years. I have enormous respect for Neil and I am confident that I will be turning the helm of StarHub over to a seasoned industry executive who can continue steering the Company successfully. I believe the Company's future is solid, not only with the strength of Neil's leadership, but with the quality and depth of the entire leadership team.”
Under Terry’s leadership, StarHub grew from being the third mobile player in 2000 to a fully integrated quadruple-player in 2009. Terry successfully merged StarHub with SCV in 2002; brought it public in 2004 on SGX-ST; made StarHub Singapore’s second largest mobile operator in 2005, the same year that it became profitable; and grew the revenue base to more than S$2 billion by 2008.
Tan Guong Ching, Chairman of StarHub said, “Terry has led StarHub from a fledgling new entrant to a leading quad-play listed entity. At StarHub, he is known for his innovative ideas, clear vision, and cohesive strategies. Terry has been instrumental in the success of StarHub, as well as in instilling in the Company a culture dedicated to strong corporate governance, integrity, and compliance. My fellow Board Directors and I are pleased that Terry is staying on as a Director. We would like to show our deepest appreciation to Terry for his outstanding leadership and his invaluable contributions to StarHub. We wish him all the best for his retirement and look forward to his continued contribution as a fellow Director.”
Appointment of Neil Montefiore as CEO
Neil Montefiore will join StarHub in January 2010, subject to regulatory approval. He brings with him over 33 years of experience in the telecommunication industry. Neil was the CEO and a Board Director of M1 in Singapore since 1 April 1996. Prior to that, he was the Director, Mobile Services at Hong Kong Telecom CSL Limited, the largest cellular operator in Hong Kong. Neil joined The Cable and Wireless group in 1976 and held various marketing and engineering management positions in Hong Kong, Bahrain, Saudi Arabia and the United Kingdom until 1983. In 1983, he joined Cable and Wireless Systems Ltd in Hong Kong and was appointed as Chief Executive in 1987. In 1989, he moved to UK as Managing Director of PakNet Ltd, a joint venture owned by Cable and Wireless PLC and Vodafone PLC which developed and launched the world’s first public packet radio data network. Neil returned to Hong Kong in 1991 as Managing Director of Chevalier (Telepoint) Ltd until 1995.
In selecting its new CEO, StarHub said key criteria included strong leadership and experience with the telco business and regulatory environment in Singapore; as well as the ability to forge lasting partnerships with vendors, partners, investors, regulators and stakeholders. The Board Nominating Committee and Board strongly believe that Neil is the most suitable candidate to lead StarHub to the next level.
Said Guong Ching: “We are pleased to welcome Neil on board. As a Telco veteran, Neil has the experience and skills to sustain StarHub’s success and prepare it to grow stronger in the coming years. These are exciting times for the info-communications and media industries. While challenges are plentiful, and competition continues to be extremely dynamic, I am confident that, together with the StarHub team, Neil will further strengthen and entrench StarHub’s position as a leading info-communications company in Singapore. My fellow Directors and I are looking forward to working with him to further grow and develop the Group’s businesses."
Neil is a Fellow of the Institution of Engineering and Technology and a Fellow of the Chartered Institute of Marketing. A Singapore Permanent Resident, Neil is 56 years old and is married with six children.