StarHub names Terry Clontz as new chairman

Singapore

TERRY Clontz, who retired as StarHub's chief executive officer in 2010, has been elected as the telco's new chairman. He succeeds Tan Guong Ching and will take on the chairman and non-executive director role from Wednesday.

Mr Clontz joined StarHub in January 1999 as its first president and CEO. Following his retirement as StarHub CEO in January 2010, he continued to serve as a non-executive director and member of the company's strategy committee.

During his 11 years at the helm of StarHub, he led the company in a number of major milestones including the transformation of StarHub from being Singapore's third mobile player in 2000 to a fully-integrated quad-play service provider; merging StarHub with Singapore Cable Vision in 2002; taking StarHub public in 2004 on the main board of the Singapore Exchange; and advancing StarHub's market position to become Singapore's second largest mobile operator in 2005, the same year that it became profitable.

"In Guong Ching's 14 years of service as chairman, StarHub's total return to shareholders, on a compounded annual growth rate basis, was 18 per cent. The board thanks him for his service, and I congratulate him on his retirement," said Mr Clontz.

Mr Tan was first appointed to the board on Aug 8, 1998 and became the non-executive chairman of StarHub on April 1, 2001.

He oversaw the successful leadership successions at the StarHub CEO level from Mr Clontz to Neil Montefiore, and eventually to current StarHub CEO Tan Tong Hai.

Mr Tan also steered StarHub through the successful company merger with the then-Singapore Cable Vision in 2002, listing on the mainboard of the Singapore Stock Exchange in 2004, and returning more than $1 billion cash to shareholders through two capital reduction exercises in 2006 and 2007, and putting in place the S$1 billion Multicurrency Medium Term Note Programme in 2011. During his chairmanship, StarHub clinched the Silver Award for Best Managed Board at the Singapore Corporate Awards 2015.

Said Mr Tan: "I am pleased to pass the baton over to Terry whom my fellow board of directors and I have worked with for the past 14 years or so. He is a familiar face not only to the board, but also to our shareholders, employees and customers. I am assured that I am passing the chairmanship to a safe and trusted pair of hands to bring StarHub into its next stage of growth."

Starhub's counter ended trading up two cents at S$3.96 on Monday.