Singapore companies announcing executive changes: Vicplas International and Sinostar PEC Holdings.
Vicplas International said Wednesday Cheng Liang, age 66, would cease to be the group CEO, effective 1 August 2022, as part of the company’s succession planning.
Cheng Liang was appointed to the position in 2018, after being appointed acting group CEO in 2014, the company said in a filing to SGX.
Cheng Liang has a direct interest in 14.03 million Vicplas shares, a deemed interest in 9.94 million shares and a direct interest in 2.5 million options, the filing said.
Walter Tarca, age 65, will be appointed deputy CEO, effective 1 February, as part of the succession plan’s effort to develop leaders. Tarca has been the president of the Vicplas Medical Devices segment (Forefront Medical) since 2016, the filing said.
Tarca will continue to work under Cheng Liang during a transition period and will become group CEO at the start of the next financial year at 1 August, the filing said.
Tarca has a direct interest in 510,000 shares and 9.49 million options, the filing said.
After the leadership transition, Cheng Liang will continue to manage the Vicplas Pipes and Pipe Fittings segment, the filing said.
VicPlas designs and manufactures piping systems and other plastic building and electrical products.
Sinostar PEC Holdings
Sinostar PEC Holdings appointed Li Dan, age 43, as general manager of its wholly owned subsidiary Dongming Changshun Transport Co., effective Tuesday, according to a filing to SGX Tuesday.
From March 2019 to the present, Li Dan has been the deputy general manager of Dongming Oil Distribution, the filing said.
In addition, Sinostar PEC appointed Huang Qiansheng, age 49, as general manager of its wholly owned subsidiary Dongming Qianhai Petrochemical, effective Tuesday, a separate filing said.
From November 2016 to the present, Huang has been the deputy general manager of the subsidiary, the filing said.