Sats appoints new group CFO as part of leadership renewal

[SINGAPORE] In-flight caterer and ground handler Sats said on Thursday (Apr 24) that it has appointed a new chief financial officer as part of its leadership renewal.

The company named Timothy Tang as group CFO-designate as part of its succession plans and “continuous renewal of its senior management team”.

Tang was chief financial officer at DFS Group between April 2022 and March 2025. The 46-year-old will be initially appointed as CFO-designate on May 2, before formally assuming the role after Sats’ upcoming annual general meeting is concluded.

He has “amassed extensive expertise in both business and finance across leadership positions in aviation-related sectors and food businesses with a global remit”, Sats said in a statement.

Currently based in Hong Kong, Tang will be based in Singapore upon joining Sats.

The incumbent Sats CFO Manfred Seah, who joined in September 2017, will transition to the role of special adviser, effective Jul 25. He will helm group-wide “critical projects” and continue to report to president and chief executive officer Kerry Mok.

Mok expressed gratitude to Seah for his years of service. He added that Seah “played a pivotal role in raising funds for Sats’ acquisition of Worldwide Flight Services (WFS), restructuring the group’s debt swiftly to reduce the overall cost of financing and seamlessly integrating WFS into the Sats Group.”

Sats completed the acquisition of WFS for 1.3 billion euros (S$1.9 billion) in April 2023, which helped the Singapore company expand its global operations.

The counter closed S$0.02 or 0.7 per cent higher at S$2.80, before the announcement.