Singapore Airlines hunts for new CEO

Airline posted unbroken run of annual profits though it experienced record high profits under Chew's term.

Singapore Airlines Ltd., the world’s second-largest carrier by market value, said it is considering “several” candidates to become chief executive officer as Chew Choon Seng signaled that he will step down.

“It’s at the mercy of the board, but I am getting on in years,” Chew, who turns 64 on Tuesday, said after a shareholders meeting in Singapore. “I should move on.”

Singapore Airlines shares have doubled since Chew, whose contract expires in December, took over at the carrier in 2003 when the SARS crisis hammered air travel in Asia. He managed an unbroken run of annual profits even as the carrier faced record jet-fuel prices, the global recession and repeated delays in deliveries of its Airbus SAS A380 superjumbos.

“Chew has a very steady hand,” said Rohan Suppiah, an analyst at Kim Eng Securities Pte in Singapore. “His ability to pull the airline out of difficult operating times is fantastic.”

The airline is “on schedule” to find a successor for Chew, said Chairman Stephen Lee. The company has looked at “several” candidates, both within and outside the company, he said, without elaboration.

View the full story in Bloomberg.