Sembcorp chairman Tow Heng Tan to retire; Andreas Sohmen-Pao to succeed him from Jun 1

[SINGAPORE] Sembcorp Industries chairman and director Tow Heng Tan will retire on Jun 1, the company said in a bourse filing on Friday (Mar 27).

He has served for three years as chairman, and five years on the company’s board.

The statement said that he is stepping down to “pursue his personal interests and passions” after a 50-year career in corporate and executive leadership.

Andreas Sohmen-Pao, 54, has been appointed as chairman designate, as well as non-executive and independent director. He will succeed Tow on Jun 1.

Sohmen-Pao has been the chairman of BW Group, a global maritime company involved in shipping, floating gas infrastructure and deep-water oil and gas production, since 2014.

Sembcorp Industries also announced that Yap Chee Keong will retire as director and chairman of the audit committee on Apr 29, when the company holds its annual general meeting.

Steven Phan, 68, will take on his positions thereafter, on top of his appointment as non-executive and independent director.

Phan has more than 35 years of experience in the audit and advisory profession. His previous roles include area managing partner for the Asia-Pacific at EY, where he was also a member of its global executive board before he retired in 2018.

After the retirement of Yap and Tow, Sembcorp Industries will have 10 directors on its board, eight of whom are independent directors.

The company’s shares ended Friday 1.7 per cent or S$0.11 higher at S$6.50.