09 May 2013
Kwek Buck Chye To Retire As CFO Of StarHub By End September 2013
StarHub To Appoint ST Telemedia’s Nicholas Tan as CFO
Singapore, 9 May 2013 — StarHub Ltd today announced the retirement of Kwek Buck Chye as its CFO by end September 2013. Stepping into the position will be Nicholas Tan from Singapore Technologies Telemedia (ST Telemedia), as elected by the StarHub Board.
“It has been an honour to support the StarHub Group for the past decade,” Buck Chye said. “It has indeed been very fulfilling to see StarHub grow to a profitable, innovative and integrated Telecommunication & Media Group with a strong market capitalisation value of $8 billion. I am very proud to have worked alongside an extremely committed and professional management team in StarHub and I am glad to retire knowing that the Group is in the capable hands of Tong Hai, our CEO, and Nicholas, my successor. Having known and worked with Nicholas for many years as colleagues in ST Telemedia, I am confident that StarHub will continue to benefit from Nicholas‟ wide ranging experiences supporting the Group‟s future growth.”
Buck Chye joined StarHub in September 2002 as its second CFO. Under his leadership, StarHub was publicly listed in 2004 and effectively completed two capital reductions in 2006 and 2007, returning more than S$1 billion cash to shareholders. In 2008, Buck Chye received the prestigious Singapore Corporate Award for Best CFO for Large Cap Company. Last year, he skillfully steered the Group to put in place a S$220 million 10-year medium term note at 3.08%.
StarHub Chairman, Tan Guong Ching said, "The StarHub Board thanks Buck Chye for his contribution and commitment to the Group for the last decade and more. He has been instrumental in shaping StarHub into the leading information, communications and entertainment provider we know today. The Board and Board Nominating Committee firmly believe that Nicholas is the most suitable candidate to lead StarHub to the next level. We are confident that Nicholas will build on the robust financial structure that Buck Chye has put in place.”
Appointment of Nicholas Tan as CFO
Nicholas Tan, 54, will become StarHub‟s CFO in July 2013. He is currently the Senior Vice President of Corporate Planning at ST Telemedia, responsible for: business oversight of subsidiaries; harnessing the collective strengths of the ST Telemedia Group of companies for synergistic gains; and spearheading group knowledge management— including financial, operational risk management, processes and systems. Nicholas also oversees the overall enterprise risk management (ERM) function at ST Telemedia.
He founded and launched a unique focus group of noteworthy practitioners across various industries, creating and galvanizing a forum to exchange ideas and experiences, enrich each others‟ organisations, and raise the standards of ERM in Singapore.
Prior to that, he was also seconded to ST Telemedia‟s former Indonesian subsidiary, PT Indosat Tbk, where he served as its Chief Financial Officer for two successful years from 2002. There, he was instrumental in the successful conclusion of a complex refinancing exercise that raised almost US$1 billion from three instruments—garnering several industry awards along the way.
His other previous appointments include Vice President of Finance at StarHub Ltd; Finance Director at ST Telemedia; Financial Controller (S.E. Asia) of Becton Dickinson Medical; Manager of Tax & Treasury at Hewlett Packard Singapore; and Corporate Internal Audit at Texas Instruments Singapore.
“Buck Chye will work closely with Nicholas to ensure a smooth transition. Thereafter, we look forward to working with Nicholas to achieving new heights for the Group,” concluded Guong Ching. “The Board and everyone here at the StarHub family wish Buck Chye all the best in his retirement.”