SINGAPORE Technologies Engineering president and chief executive Tan Pheng Hock will step down from his position on Sept 30.
Mr Tan will become adviser to Vincent Chong, who will officially take over as president and CEO. Mr Chong will also be appointed as a director from Oct 1.
Mr Tan started his career as an engineer in ST Marine in 1981. He rose up the ranks and was appointed to the position of CEO in early 2002.
"Over the years, Pheng Hock has led ST Engineering to scale great heights - from a Singapore-centric company to become a leading integrated engineering group with global presence. We thank him for his courage, patience and foresight in leading the group," said chairman Kwa Chong Seng.
"I am honoured to have been entrusted to serve and help shape strategic initiatives in ST Engineering during these defining years. Whatever recognition ST Engineering or I have received over the years is simply recognition of the excellence of everyone in our group," said Mr Tan. "The baton has to be passed on and I leave the group in good hands. I am confident that Vincent, with his credentials and global experience, will break new ground for ST Engineering."
Mr Chong has been understudying Mr Tan since last October and has taken on increasingly broader responsibilities in the group as part of transition plans. He joined the group in April 2014, first as president of strategic plans & business development at ST Aerospace and later as the group's deputy CEO (corporate development).