SINGAPORE (July 22): Hong Leong Asia has appointed Stephen Ho as their new Chief Executive Officer (CEO) with effect from August 3, 2020.

He succeeds outgoing CEO Tan Eng Kwee, who will be departing after being with the Group for almost two years. Ho will join as CEO-designate on August 3, before assuming full responsibilities after Tan leaves on August 16.

See: Hong Leong Asia CEO Tan Eng Kwee resigns

Prior to the appointment, Ho was the Group Chief Financial Officer (CFO) of Wilmar International for almost nine years, and before that, he was Senior Vice President and CFO (Greater China) of Philips Electronics China Group.

In a Wednesday announcement, Hong Leong’s board said Ho was appointed after “taking into consideration his qualifications and in-depth working experience garnered from the senior management positions he had held throughout his career.”

It added that with Ho's wealth of experience in finance, treasury and risk management, as well as sales and marketing and having worked in companies with operations in Asia-Pacific and particularly China, he will be able to make positive contributions to the Group.

Shares in Hong Leong Asia closed 1% down, at 49 cents on Wednesday.