Berjaya's Vincent Tan steps back into non-executive role

KUALA LUMPUR: Berjaya Corp Bhd chairman Tan Sri Vincent Tan Chee Yioun has relinquished his role as the company's executive chairman but will remain on the board of directors as non-executive chairman, effective today.

"With Jalil Rasheed on board as Group CEO, handling the strategic and operational decision-making and planning the future business direction of the BCorp Group, together with Executive Deputy Chairman, Dato’ Sri Robin Tan, I am confident that the BCorp Group is in capable hands and would be able to move forward progressively towards greater heights.

"It is also important to give Jalil space and freedom to run Berjaya in his own style," said Tan in a statement.

He added that he will take a step back from active day-to-day involvement in the group's businesses to devote more time to promoting charitable initiatives and other interests.

Tan said his charitable vehicle, the Better Malaysia Foundation, was launching a new social enterprise programme to assist the government in solving home ownership needs for low-income Malaysians through innovative and sustainable solutions.

Meanwhile, Robin Tan said he will also step into a non-executive role on the board once the transformation process and plan have stabilised, in line with the elder Tan's vision of independent professional management.

At 12.30pm, shares in Berjaya were up one sen or 2.22% to 46 sen on the back of 98.18 million shares traded.

The share price of the conglomerate has nearly tripled since Jalil was appointed CEO on March 16.
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