13 July 2015
Terry Clontz to succeed Tan Guong Ching as StarHub Chairman
Singapore, 13 July 2015 - StarHub Ltd today announced the retirement of Mr Tan Guong Ching as its Chairman and Non-Executive Director. Mr Tan will be succeeded by Mr Terry Clontz who is currently a Non-Executive Director on the StarHub Board. Mr Clontz will take on the Chairman and Non-Executive Director role from 15 July 2015.
Retirement of Mr Tan Guong Ching
Mr Tan, 68, was first appointed to the Board on 8 August 1998 and became the non-executive Chairman of StarHub on 1 April 2001. He oversaw the successful leadership successions at the StarHub CEO level from Mr Clontz to Mr Neil Montefiore, and eventually to current StarHub CEO Mr Tan Tong Hai. Mr Tan also steered StarHub through the successful company merger with the then-Singapore Cable Vision in 2002, listing on the Mainboard of the Singapore Stock Exchange in 2004, and returning more than $1 billion cash to shareholders through two capital reduction exercises in 2006 and 2007, and putting in place the S$1 billion Multicurrency Medium Term Note Programme in 2011. During his chairmanship, StarHub clinched the Silver Award for Best Managed Board at the Singapore Corporate Awards 2015.
Mr Tan said, “It has been an honour to serve as Chairman of StarHub for the past 14 years. I have seen StarHub grow its revenue from $778 million in 2001 to $2.4 billion in 2014. When we went IPO, we were only a 95 cents stock. Today, our share price has appreciated by more than four times, and since listing in 2004, we have returned more than five times of shareholder values to our shareholders. I am extremely proud of the fact that StarHub is ranked 24th in the Corporate Knights’ Global 100 list of the world’s most sustainable companies. And we are the only telco and one of the four companies in Singapore to be included.”
Mr Tan further added, “I am pleased to pass the baton over to Terry whom my fellow Board of Directors and I have worked with for the past 14 years or so. He is a familiar face not only to the Board, but also to our shareholders, employees and customers. I am assured that I am passing the chairmanship to a safe and trusted pair of hands to bring StarHub into its next stage of growth.”
Appointment of Mr Terry Clontz
Mr Clontz, 64, is the Senior Executive Vice President of North America and Europe Operations at Singapore Technologies Telemedia Pte Ltd and a Senior Corporate Advisor to the Temasek Holdings International group. His other appointments include Director of Jasper, Inc, Level 3 Communications, Inc and Virgin Mobile Latin America, Inc in USA as well as PSA International Pte Ltd, Singapore. He is also Chairman of the Executive Committee for UMobile in Malaysia and Vice Chairman of the Executive Committee of GDS in China.
Mr Clontz joined StarHub in January 1999 as its first President and CEO. Following his retirement as StarHub CEO in January 2010, he continued to serve as a Non-Executive Director and Member of the Company’s Strategy Committee.
Mr Clontz is a well-regarded veteran in the telecommunications and media industry with 42 years of extensive experience. During his 11 years at the helm of StarHub, he has led the company in a number of major milestones including the transformation of StarHub from being Singapore’s third mobile player in 2000 to a fully-integrated quad-play service provider; merging StarHub with Singapore Cable Vision in 2002; bringing StarHub public in 2004 on the main board of the Singapore Exchange; and advancing StarHub’s market position to become Singapore’s second largest mobile operator in 2005, the same year that it became profitable.
“During my time as CEO, I was fortunate to have Guong Ching's seasoned counsel and guidance. In Guong Ching's 14 years of service as Chairman, StarHub's total return to shareholders, on a compounded annual growth rate basis, was 18 percent. The Board thanks him for his service, and I congratulate him on his retirement. I am honoured to be elected as the new Chairman of StarHub, and I look forward to working with my fellow directors and the management team,” stated Mr Clontz.