ST Engineering is to reorganise its business from 1 January ahead of “its next phase of growth”
The company will transition to Commercial and Defence & Public Security clusters, replacing the current sector-structure of Aerospace, Electronics, Land Systems and Marine.
ST Engineering said the move was based around not only growth but “customer-centricity”, enabling the business clusters to build “deeper and more strategic customer partnerships”.
In the Commercial cluster, commercial aerospace will become one of three global business areas (GBAs). Under this new banner, long-term growth will be sought in the MRO industry, as well as in aerostructures and systems and aviation asset management.
Elsewhere in the restructure, ST Engineering will establish a group engineering centre that will work closely with the existing group technology office to “drive advanced technology and engineering applications for both defence and commercial businesses”. Digitalisation in MRO – or smart MRO – will be among the initial focuses. These teams will augment business-specific engineering teams that remain with the business units, the company said.
ST Engineering has also created a new leadership structure as part of the reorganisation. It will be led by a group executive committee comprising group president & CEO Vincent Chong; group chief financial officer Cedric Foo; group chief operating officer, operations excellence and chief commercial officer Lim Serh Ghee, and group chief operating officer, technology & innovation and president/head of defence & public security Ravinder Singh.
The committee will be supported by a group senior business council and a group senior management team, comprising select business leaders and corporate function heads.
Chong commented: “The environment today is one where technological advancements and shifting customer demands are catalysing disruptive business models and rapidly transforming the competitive landscape.
“The time is now right for us to create a sharper and more agile organisation that will be highly attuned and responsive to our customers’ needs in the new world.
“The impetus for this reorganisation was our desire to achieve global success, but Covid-19 has reinforced the need for change with fresh urgency. Even as we keep the group on an even keel amid challenges presented by Covid-19, we are proactively undertaking this organisation redesign to better position ST Engineering for global growth in the years ahead.”