Singapore O&G (SOG) has a new CEO! SOG has appointed Eric Choo, the ex-CFO with effect from 3 February 2020. Eric was the CFO of SOG from 2014-18 and was involved in the company’s 2015 IPO before leaving to work as CFO of Eagle Eye Centre.
Here are a few thoughts:
It’s always a good thing when the ex-CFO returns to work for a company. At the very least, you know that the company’s accounting practices are sound! Eric Choo previously spent 4.5 years working for SOG so he should be able to hit the ground running. On the downside, the new CEO knows about the skeletons in the closet so the company may do a big goodwill write-down for the dermatology segment when they report results in February 2020. A complete write-down will be painful but it will allow investors to see the company’s growth for subsequent years. (It’s...