Yeow's contract is scheduled to conclude on Feb 29, 2024.
PETALING JAYA: Star Media Group Bhd
(SMG) group chief executive officer (CEO) Alex Yeow Wai Siaw will serve out his existing employment contract at the end of February 2024.
SMG, in a statement to Bursa on Wednesday, said the Board shall take the necessary actions pertaining to succession planning.
Yeow was appointed to his current position on March 1, 2021, and his employment contract is scheduled to conclude on Feb 29, 2024.
With significant professional and management experience across various industries, Yeow held senior management roles in companies such as Malayan Cement Bhd, Hong Leong Group and Hap Seng Consolidated Bhd.
He also served as a consultant at McKinsey & Company Inc, working closely with corporate clients and government-linked companies (GLCs) in Malaysia, Indonesia and Singapore, all prior to joining SMG.
Yeow has also served as a director in several public-listed companies, holding notable positions such as the group CEO and executive director of Tropicana Corporation Bhd, non-executive director of Hafary Holdings Ltd, managing director and executive director of Guocoland (M) Bhd, and executive director of Tower Real Estate Investment Trust.
In the financial year ended Dec 31, 2022 (FY22), SMG saw a 16% rise in revenue, reaching RM217mil from RM187mil in FY21. It also reported an annual net profit of RM6.92mil for FY22, overcoming two back-to-back years of losses.
This growth was attributed to strategic initiatives undertaken by the management, emphasising revenue generation, which consequently contributed to the ongoing enhancement of its financial performance.
