Yinson Holdings has appointed a new group chief financial officer (CFO) with immediate effect, ending a two-year search for a new recruit for the post.
The Malaysian floater specialist has appointed Guillaume Jest to the post. He will report to Yinson’s chief strategy officer Daniel Bong.
Yinson said Jest would oversee the strategic transformation of the group’s tax, treasury and financial reporting functions in line with its “growth and expansion” into new businesses and geographical areas.
Yinson has not had a CFO since 2018, following the retirement of Tan Fang Fing. However, the company has never given any reason for this delay in appointing a successor.
The company said Jest’s appointment will now allow the group chief strategy officer to devote greater focus to the development and execution of Yinson’s strategic plans.
Jest is said to have over 25 years of “finance leadership experience” across fast moving consumer goods (FMCG), industrial, chemical and pharmaceutical companies, most extensively in Asia.
He has spent the last 12 years of his career at American conglomerate Koch Industries, including nine years in Singapore.
Jest graduated from Harvard Business School's general management program and holds a master of international management from the Ecole Superieure de Commerce de Paris.
“We are pleased to welcome Guillaume to the Yinson management team, as he brings with him the skills and experience needed to position our tax, treasury and financial reporting functions for the growth ahead,” said Bong.
“Such strong leadership he will be able to bring to the team will indeed enhance the effectiveness of other business functions, and the company as a whole, bringing greater shared value to our stakeholders.”
Yinson describes itself as the sixth largest independent floating storage, production and offloading vessel leasing company with a market capitalisation of about $1.65bn.
The company has six FPSOs and one floating storage and offloading vessel in operation spread across locations in West Africa, Vietnam, Malaysia and Brazil.
It recently moved into the renewables sector with the aim of making it a major revenue stream.
While the primary focus will be on onshore wind and solar, it may also include offshore wind, hydro and other opportunities.
