Chief financial officer of KrisEnergy resigns

Chief financial officer (CFO) of oil and gas company KrisEnergy has tendered his resignation to pursue other interests.

Kris Energy said on Thursday that Kiran Raj, the CFO of the company, decided to resign from the role.

Raj also resigns as an alternate executive director to the executive director and CEO Kelvin Tang, and as vice president of finance and administration.

The company added that Joanne Ang, the group’s treasury manager, would take on the role of interim CFO.

The leaving CFO will advise Ang in the transition period with his last day of service being on October 17, 2019. Also, the board will begin a process to appoint a successor to the CFO.

Tan Ek Kia, chairman of KrisEnergy, said: “Kiran has been our CFO since 2013. He has been a valued member of the management team and has made a huge contribution to the business in what have been exceedingly challenging times given the plummet and prolonged depression in oil prices since late 2014.

“I would like to thank him for his work over the last six years and wish him every success in the future. The board also thanks Joanne for stepping in as Interim CFO.”

As for Joanne Ang, she joined KrisEnergy in 2013 as the corporate finance manager and was appointed group treasury manager in the following year.

She began her career with the Commonwealth Bank of Australia in Sydney in 1999 in financial market operations and progressed to research analyst before departing in 2007.

Ang moved to Singapore in 2008 and joined CLSA as a research analyst. From 2009 to 2013, she worked as VP of corporate finance at Brighton Capital Advisors.

It is worth noting that the CFO is the second high ranking member of the management team to resign this month. Last week, chief operating officer James Parkin resigned from his role to pursue other interests.