Suspended offshore and marine group Ezion Holdings has reorganized its senior management team to strengthen its overall management structure, as the ailing group struggles to stay afloat in an oil price slump that has hit the industry.

Ezion has named two new key executives, namely Eng Chiaw Koon as Deputy Chief Executive Officer and Goon Fook Wye Paul as Chief Financial Officer. Their appointments take effect on July 1

Mr Eng, who will jointly be the deputy CEO with Lee Kon Meng Peter, will assist the CEO in providing strategic management to the group's operations and be responsible for the group's execution of strategic and commercial plans. He will be working with all functional units in ensuring business priorities and commercial obligations are met. Currently, he is a consultant to Ezion.

Meanwhile, Mr Goon will remain as joint company secretary after his title is re-designated as CFO from chief group business officer (CGBO). He will be responsible for the group's overall financial and corporate secretarial functions. After giving up his CGBO position, his responsibilities as CGBO will be assigned to Mr Eng as part of the latter's job scope as the deputy CEO.

Chong Chee Wei Alan, who is the acting CFO, will be re-designated as head of corporate finance and will be responsible for the debt and equity raising activities as well as investor relations.