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CEO of StarHub retires, global search for his successor to begin
LISTED telco StarHub has announced that its chief executive officer Peter Kaliaropoulos will retire on Oct 31. Following his step-down, the firm will start its global search for its next head honcho.
The StarHub board will establish an interim board executive committee (Board ExCo) to provide support to the management-leadership team for the search for the next CEO and oversee the transition for the new CEO, said StarHub in a regulatory filing after market-trading hours on Monday.
Until the new CEO is hired, Mr Kaliaropoulos, aged 61 and just two years into the position, will serve as a co-opted member on StarHub’s Board ExCo.
Asked if the firm would look for a Singaporean as its next CEO, he said in a last-minute convened conference call on Monday that the search will be for the best person available, although he qualified this by saying that he was not speaking on behalf of the selection committee.
His abrupt retirement comes in the wake of a family member's serious health problems, which have necessitated his urgent return to Sydney, "to be closer to my family during this critical period". He added: Following almost 40 years in the industry across multiple countries, it is also the right moment in my career to step down from full-time executive roles.”
The Australian first joined StarHub as senior vice-president of commercial operations in 1999. Following that, he took on several C-level roles in other companies in New Zealand, Australia and the Middle East, before re-joining StarHub in July 2018 as CEO.
During his tenure, he initiated a sweeping strategic transformation programme to accelerate StarHub’s digital evolution, improve customers’ experience, optimise efficiencies, redefine and ignite a cultural transformation for staff, and identify growth opportunities, the telco said.
Among the many initiatives were the investment in Malaysia-based Strateq (digital services) and securing a 5G licence via a partnership, noted StarHub.
Price of the counter was up one cent to S$1.29 on Monday when the market closed.