SATS appoints new Group Chief Financial Officer as part of leadership renewal
Singapore, 24 April 2025 – SATS Ltd. (“SATS”), one of the world’s leading providers of air cargo and ground handling services, announced today that Manfred Seah, Group Chief Financial Officer (CFO), will transition to the role of Special Advisor with effect from 25 July 2025. In tandem with this move, SATS has appointed Timothy Tang as Group CFO-Designate as part of SATS' succession plans and continuous renewal of its senior management team to support and sustain its growth ambitions as a Singapore-based global company.
The Board concludes that he is well-suited to assume the position of Chief Financial Officer (CFO) after reviewing his experience and expertise in the business, accounting and finance sector, and leadership positions with a global remit. Accordingly, Timothy is to be initially appointed as CFO-Designate on 2 May 2025, before formally assuming the role of CFO on the conclusion of the Company's upcoming AGM. Thereafter, Manfred shall remain with SATS as Special Advisor and helm group-wide critical projects. Manfred will continue to report to Kerry Mok, President and CEO, SATS Ltd.
Most recently, Timothy was Chief Financial Officer of DFS Group, a leading global luxury travel retailer, and has amassed extensive expertise in both business and finance across leadership positions in aviation-related sectors and food businesses with a global remit. Timothy comes with valuable experience in post- Merger and Acquisition integrations, operations and building seamless transitions for long-term growth. Prior to DFS, Timothy spent nine years in the Jardine Matheson Group where he held several key general management, commercial and finance roles, including as Managing Director of Wellcome Hong Kong and Macau. Timothy is a Chartered Accountant and holds an MBA from the Royal Melbourne Institute of Technology in Australia. Presently based in Hong Kong, Timothy will be based in Singapore on joining SATS.
Manfred joined SATS as Group Chief Financial Officer in September 2017. He has led the Group's finance operations to drive integration as it expanded its global operations after the acquisition of Worldwide Flight Services (WFS). During the COVID-19 pandemic, Manfred played a crucial role in mitigating the financial impact of the aviation slowdown by securing the necessary debt financing to ensure that SATS continued to have adequate liquidity and resources to operate sustainably and survive the pandemic. With his leadership and prudent resource management, he helped SATS return to profitability in 2024 and re-emerge stronger for the long haul with a diversified base, positioning it for future sustainable growth.
Kerry Mok, President and Chief Executive Officer of SATS Ltd, said: “On behalf of SATS, I am grateful to Manfred for his years of service, leadership and invaluable contributions to our transformational journey. Manfred played a pivotal role in raising funds for SATS’ acquisition of WFS, restructuring the Group’s debt swiftly to reduce the overall cost of financing, and seamlessly integrating WFS into the SATS Group.
“As we move to our next phase of growth, I look forward to welcoming Timothy as he brings fresh perspectives and a proven track record of global leadership that will strengthen our senior management team. I am confident that Timothy’s business and financial expertise managing global operations of significant scale and complexity will help drive SATS in sustaining growth and creating value, worldwide.”