The company said in statement that Lee will relinquish his role as CEO and will be succeeded by Datuk Voon Tin Yow.
Lee was first appointed to the board of IOI Properties on Feb 25, 2013, as executive director and served as the CEO from Jan 8, 2014.
He was also appointed the executive director of IOI Corp Bhd in 2008 and redesignationed the non-independent non-executive director in 2013
Incoming CEO Voon was previously the executive director of SP Setia Bhd and COO from 1996 to 2014, during which time he also served as acting president and CEO from May to December 2014.
As CEO of IOI Properties Voon will be responsible for the overall management of the group’s business in its various business segments of property development, property investment as well as hospitality and leisure.