Honestbee has seen several leadership changes within the past year.
Many senior executives have tendered their resignation and all three co-founders have since left the company.
Its CEO role alone has seen several changes in recent months. After Joel Sng stepped down from his CEO role in May, Brian Koo took over as the interim CEO and was later replaced by Ong Lay Ann.
Today, honestbee announced another set of leadership changes as part of the firm’s restructuring efforts.
Its former chief of staff Varian Lim has been promoted to the new chief operating officer (COO).
In this new role, he will take charge of implementing better business practices and securing the functionality of Honestbee’s business for sustainable growth.
Honestbee has also appointed Lim Yiak Tiam, a chartered accountant, as the firm’s vice-president for finance.
He joined honestbee in September as the interim chief financial officer (CFO), where he is responsible for several functions including audit and accounting.
According to honestbee, these two new appointments are effective as of 1 October 2019.
Other additions to the team include vice-presidents for corporate strategy, regional growth, and Honestbee’s physical retail store Habitat.
With a new management team, honestbee CEO said he hopes to have better internal processes like inventory management systems as well as check and balances in place.
When you build a company to a certain scale (and) if you don’t actually have your proper processes and systems, you’re just going to collapse like a house of cards.
– Ong Lay Ann, CEO of honestbee
Honestbee’s hiring spree is still not over yet though. It is looking to hire in areas where it lacks the ‘right talent’, such as the finance department.
Featured Image Credit: SME Conference 2019