STARHUB’S chief financial officer (CFO) Dennis Chia has resigned from his position after slightly over nine years into the role, citing “personal reasons”.
On Friday (Aug 16), the telecommunications company announced that Jacky Lo, who is currently Indonesian tech giant GoTo’s group CFO, will join the group to replace Chia from the date of his cessation being Sep 2, 2024.
Upon stepping down as StarHub’s finance chief, Chia will be appointed as advisor to the group’s chief executive up until Dec 31, 2024.
He holds about 1.3 million ordinary shares in the company, which are partially held by nominees.
Another 1.2 million shares were conditionally awarded to him as part of the company’s restricted and performance share plans over the past decade, subject to certain conditions.
Chia joined StarHub as the group’s CFO in July 2015. Earlier this month, he had ceased to be a non-executive director at entertainment conglomerate mm2 Asia to “facilitate board renewal”.
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Lo, who principally resides in Hong Kong, was finance chief of Ping An’s OneConnect Financial Technology up until he joined GoTo Group in June 2021. Prior to that, he also worked at Chinese fast-food company Yun China Holdings, as well as at Ernst & Young’s Asia Pacific Markets Group.
He obtained his Certified Public Accountant licence from Texas in the US.
Highlighting Lo’s “wealth of experience”, StarHub said its board believes the incoming CFO will “contribute to the best practices of StarHub relating to financial planning and corporate governance, and to developing key strategies together with the (group’s) leadership team”.
Shares of StarHub were down S$0.01 or 0.8 per cent on a cum-dividend basis as at the midday trading break on Friday, before the news.
