Vicom’s CEO Sim Wing Yew will retire after 14 years in the role. Sim, who was appointed to the position on May 1, 2012, will step down on Dec 31.
Sim will also step down from his roles as director and member of Vicom’s sustainability and technology committees on the same day.
Deputy CEO Chung Tying Chun will assume the role of CEO as well as Sim’s other roles on Jan 1, 2027.
According to Vicom, the leadership transition is part of its succession planning to ensure “continuity and a smooth handover”.
Chung, who was made deputy CEO on May 1, first joined Vicom in 2013 and has held key roles across the vehicle inspection and non-vehicle testing businesses including being the CEO of Vicom subsidiary, Setsco Services.
“I am deeply honoured to be entrusted with leading VICOM into its next chapter. The TIC (testing, inspection and certification) sector continues to evolve rapidly, shaped by changing regulatory, industrial and sustainability needs. Building on the strong foundations laid by Wing Yew and the team, I look forward to driving disciplined growth, fully leveraging the Jalan Papan integrated hub, strengthening our testing, inspection and certification capabilities, and supporting our customers as they navigate the transition to a greener and smarter future,” says Chung.
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Sim added that it had been a “privilege” to lead Vicom and expressed his gratitude to the board, management team as well as his colleagues for their “unwavering support and partnership”. “Together, we have strengthened Vicom’s position as a trusted TIC partner. Tying Chun knows the business well, has a strong track record, and will take the company forward successfully.”
Dr Tan Kim Siew, chairman of Vicom, also thanked Sim for his “exemplary leadership and significant contributions”. He noted that Sim had strengthened Vicom’s core businesses and expanded its capabilities in non-vehicle testing during his 14-year tenure.
Welcoming Chung as CEO, Tan adds that his “deep operational and technical experience, together with his familiarity with Vicom’s businesses, gives the board confidence that he is well-placed to lead the company into its next phase of growth.”
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In line with his promotion, Chung will relinquish his role as CEO of Setsco on July 1. Ng Soon Lee, a “key member” of Setsco’s management team, will become its acting CEO on the same day.
Shares in Vicom closed 1 cent higher or 0.56% up at $1.79 on June 24.
