Tiger appoints new group CEO

Tiger announced its search for a Group CEO to succeed Mr Chin in February 2012. Mr Koay was chosen following a global selection process.

Mr Koay was Executive Director of Pacific Carriers Limited and PaxOcean Engineering Group, Kuok Group companies involved in the marine and offshore engineering, offshore services, and shipping industries. Prior to this, he was the Group CEO of IMC Corp Limited, an industrial and supply chain group. He earlier spent 18 years with the NOL Group in various senior management roles, including as President of Greater China. He has a Master of Science from Massachusetts Institute of Technology.

"We welcome Peng Yen to the Tiger team," said Tiger Chairman J Y Pillay, "Notwithstanding that he is entering the airline industry for the first time, the Board assesses that his proven leadership and strategic skills, capacity for incisive thinking and facility for building cohesive teams are able to propel the Group to greater and sustainable heights."

"On behalf of the Board, I extend our deep appreciation to Yau Seng for coming in at a critical period in the Company's history, and stabilising the Group through a tumultuous period. He set the Group on a course of steady progress and improved governance," added Mr Pillay.

Group CEO designate Mr Koay said the task ahead is formidable but he looks forward to the opportunity to take Tiger to greater heights.

"It is a privilege to work with Tiger with the opportunities it offers for business expansion and brand development. There is great potential for Tiger to soar as we drive growth in air travel in Asia, and make our presence felt," said Mr Koay, "We aim to build an Airline that prides itself on offering good deals with great reliability to flyers. In doing so, we intend to maximise shareholder value for our investors as we take Tiger into a new phase of growth across the skies."

Mr Koay will be proposed for election as Director at the Tiger AGM on 31 July 2012.