STARHUB’S chief financial officer (CFO) Dennis Chia has resigned from his position just over nine years into the role, citing “personal reasons”.
On Friday (Aug 16), the telecommunications company announced that Jacky Lo, now Indonesian tech giant GoTo’s group CFO, will replace Chia from Sep 2, the date of his cessation.
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 under the company’s restricted and performance share plans over the past decade.
Chia joined StarHub as the group’s CFO in July 2015.
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. Before that, he was at Chinese fast-food company Yun China Holdings and 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 he 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.
