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CHANGE OF KEY MANAGEMENT PERSONNELS AND RESIGNATION OF A NON-EXECUTIVE DIRECTOR
In line with Stratech’s path to profitability strategy and cost management measures, we have consolidated the executive duties and responsibilities. As a result, The Board of Directors of Stratech Systems Limited (“the Company”) would like to announce the following changes in the key management personnel:
Change of Chief Executive Officer
As part of the company’s profitability strategy, Mr Terence Ian Nickolls has completed his tenure as President & Chief Executive Officer of the Company with effect from 31 March 2003. Fulfilling the company’s succession plan, Mr Tan Chee Peng who joined as the company’s Deputy President since February 2002, has been appointed the Company’s Chief Executive Officer with effect from 1 April 2003. Mr Tan Chee Peng, has more than 16 years of consulting experience in the financial services industry. He was ex-Managing Partner with Andersen Worldwide, managing the consulting practice in Mauritius, Madagascar, Kenya, Malawi, Tanzania and Uganda. He has helped numerous multinational corporations in IT and e-commerce strategy formulation, implementation, business process re-engineering, change management and performance management. In his new role, Mr. Tan will ensure that the short- and medium-term goals of the company are on track to meet long-term strategic initiatives, as well as oversee the day-to-day business operations of the company. Mr. Tan was also previously Vice President, Technology of Citibank. N.A Singapore.
Departure of Executive Vice President of Business
Mr Timothy Allen Stewart has resigned as Executive Vice President, Business of the Company with effect from 14 March 2003. As previously announced, Dr David Chew, the Executive Chairman, has assumed the role of driving the company’s business, in addition to strategic directions.
Departure of Senior Vice President of Finance
Mr David Eaw Kok Hin has resigned as Senior Vice President, Finance of the Company with effect from 6 March 2003. Mrs Chew-Leong Sook Ching, Deputy Chairman of Finance, Legal / Corporate Affairs will take over Mr Eaw’s duties during this interim period. She will be assisted by Mr Liew Tet Min, Vice President of Finance and supported by the board members and the audit committee.
The Board of Directors would like to thank all the above for their services to the Company.
The Board of Directors of Stratech Systems Limited (“the Company”) would also like to announce:
Resignation of a Non-Executive Director
Mdm Ng Lucy @ Hwang Fei Fung has resigned as a Non-Executive Director of the Company with effect from 15 March. Mdm Ng has been on the board of directors since the start of the company in 1989. The Board of directors would like to thank Mdm Ng for her numerous contributions to the success of Stratech.
About Stratech Systems Limited
Stratech Systems Limited (“Stratech”) is a fast growing advanced technology and e-Business developer. We deliver mega real-time mission critical systems in the areas of Computer Vision, intelligent Transport Systems and e-Government. Stratech brings together world-class expertise, software and resources to help its clients meet operational challenges and New Economy opportunities.
Formed in 1989, we have since established an impressive track record serving industries such as Transportation, Healthcare, Government, Defence, and Financial Services. Over the years, we are recognised as a technology expert and innovator, as we continuously develop and implement solutions that achieve significant business transformation and competitive advantage for its clients.
Listed on the Mainboard of the Singapore Stock Exchange, Stratech is headquartered in Singapore and also operates in Greater China (Hong Kong and China) and Australasia.
For more information, please contact:
Corporate Communications Division
Tel: +65 6799 6650
Fax: +65 6323 2177