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.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Next In Business News

China advises US on inflation: Remove punitive tariffs
Crude oil extends slump as traders weigh dollar against demand
National Budget Office: Safer to open economy in stages
MIDF Amanah AM launches ESG Mustadamah fund
FGV to appoint independent auditor for forced labour assessment in August
Employers: More clarity on details of NRP crucial
Mild bargain-hunting lifts FBM KLCI, tech plays track Nasdaq higher
Bank Negara, Bank of Thailand launch cross-border QR payment linkage
UOB Kay Hian: RM500m annual cost savings from Celcom-Digi merger
Lotus's Malaysia launches flagship stores in Penang, Johor

Stories You'll Enjoy