SINGAPORE: Energy, water and marine giant Sembcorp Industries on Tuesday (Dec 20) announced that Mr Neil McGregor will be its new Group President and CEO with effect from Apr 1, 2017.
He succeeds Mr Tang Kin Fei, who will retire on Mar 31, 2017 after 30 years with the group.
Mr Tang has been CEO and president at Sembcorp since 2005. He will remain as an advisor and a non-executive director on Sembcorp's board until May 31, 2017, Sembcorp said in a media release.
Mr McGregor is currently a senior managing director and head of Energy and Resources at Temasek International. He was previously the CEO of Singapore LNG Corporation, as well as managing director of YTL PowerSeraya. He is also a director of Sembcorp Industries' board, the media release said.
"Neil is not new to Sembcorp. As a member of the board since 2014, he understands Sembcorp and our different businesses well. He comes with deep expertise in the energy and infrastructure sectors as well as strong international operating experience," said chairman of Sembcorp Industries Ang Kong Hua.
Mr Ang also highlighted Mr Tang's contributions to the group. “Kin Fei has been an outstanding chief executive. Under his visionary and astute leadership, Sembcorp’s businesses have grown into leading players in their industry sectors. Kin Fei spearheaded the development of our Utilities businesses, which has today become the Group’s largest profit contributor. The board and I would like to express our heartfelt appreciation for everything he has achieved and the strong foundation he has laid for Sembcorp,” he said.