Sembcorp Industries appoints new group CFO

SEMBCORP Industries is appointing a new group chief financial officer (CFO), Eugene Cheng, who will join the company on March 8, it said in an exchange filing on Friday.

He will take over from the current CFO, Graham Cockroft, who has decided to leave the company at the end of this month to relocate to New Zealand.

Mr Cheng is currently chief corporate officer of Sats. He oversees its business development, strategic investments and mergers and acquisitions (M&A), corporate strategy, legal and secretariat, risk and safety as well as corporate administration and support services functions.

He was a former investment banker with JP Morgan and Citigroup, focused on M&A advisory, financing and capital raising. Mr Cheng has extensive experience in financial and strategic leadership across the aviation, offshore oil & gas, marine engineering and logistics industries, Sembcorp said.

As Sembcorp's CFO, Mr Cheng will manage the group's finance, strategy, portfolio and commercial teams and be a key member of the Sembcorp senior leadership team, the company added.

Sembcorp Industries shares rose 0.6 per cent on Friday or S$0.01 to close at S$1.68, before the announcement.