SINGAPORE - StarHub CEO Neil Montefiore will retire by the end of February this year.
The 60-year-old, who joined the telco in January 2010 as its second CEO, will be succeeded by StarHub's COO, Tan Tong Hai in March 2013, subject to regulatory approval.
"It has been a privilege to lead the StarHub Group for the past three years," Neil shared. "I just turned 60 recently and I think it is the right time for me to retire from a full-time executive role. Moreover, I am leaving StarHub in good hands. Tong Hai and I have worked together for many years and I am confident that I will be turning the helm of StarHub over to yet another seasoned industry executive who can continue steering the Group successfully."
During his tenure, the telco posted an eighth straight year of consistent growth in 2012, with its operating revenue rising to $2.4 billion, said StarHub in a statement.
StarHub Chairman, Tan Guong Ching said, "The StarHub Board would like to thank Neil for his contribution in both the strategic and business sustainability aspects of the Group over the past three years. Under Neil's stewardship, StarHub's market capitalisation rose from $4 billion to $6.7 billion and StarHub, in its debut year, was ranked #66 in the Corporate Knight's Global 100. We wish Neil all the best for his retirement."
The incoming CEO brings with him over 20 years of experience in the regional information technology, Internet and e-commerce industries and has had broad experience at top management levels. Mr Tan was previously the President and the CEO of Singapore Computer Systems since August 2005, and the President and the CEO of Pacific Internet from March 2001. He was instrumental in turning both companies around when he was at their helms.
As StarHub's Chief Operating Officer, he oversees the day-to-day operations of the company and has direct responsibility of the company's Consumer Business Group, Enterprise Business Group, Customer Service, Network Engineering & Information Services, Wholesale & International Services as well as Government & Strategic Affairs divisions.
He is currently the Deputy Chairman of Nanyang Polytechnic's Board of Governors. In addition, he serves as Chairman of its NYP Ventures Pte Ltd, and its School of Information Technology Advisory Committee.
An Honours graduate in Electrical Engineering from the National University of Singapore., he is 50 years old and is married with two children.