KYM Holdings Bhd has announced that the NonIndependent and Non-Executive Chairman of KYM, Dato’ Seri Dr. Isahak bin Yeop Mohamad Shar will step down from the Board effective from 5 July 2022, after helming the Group for almost 16 years.
Dato’ Seri Dr. Isahak bin Yeop Mohamad was the Chief Executive Officer and Executive Chairman of KYM from 2006 to 2013. He stepped down as CEO, after which he was redesignated to Non-Independent Non-Executive Chairman in 2014. Dato’ Lim Kheng Yew, the founder of KYM Group has decided to retire on 5 July 2022 after almost four decades of service. Dato’ Lim has been an integral part of the KYM group’s growth since 1982.
Mr Lim Tze Thean will assume the positions of Executive Chairman and CEO in the interim to ensure a smooth leadership transition. In addition, the Company also announced the resignation of two Independent Directors, namely Dato’ Seri Ir. Mohamad Othman bin Zainal Azim and Datuk Seri Rahadian Mahmud bin Mohamad Khalil and the appointment of a new Independent Director to its board, namely Ms Lee Li Choon.
Dato’ Seri Ir. Mohamad Othman bin Zainal Azim and Datuk Seri Rahadian Mahmud bin Mohamad Khalil has served as an Independent Director of KYM for more than 15 years. Their resignations are in line with the mandatory 12-year tenure limit for independent directors. Dato’ Mohd Azmi bin Othman, an Independent Director who has served the Company for more than 12 years, did not seek re-election at the 40th Annual General Meeting. Ms Tang Kae Sue who was newly appointed as an Independent Non-Executive Director in March 2022 did not stand for re-election at the 40th AGM due to health conditions. Dato’ Mohd Azmi bin Othman and Ms Tang Kae Sue retired at the conclusion of the AGM.
The new line-up and changes in the boardroom reflected a total of 5 members of the board of directors and 2 female directors representing 40 percent female representation. “On behalf of the Board, I want to thank Dato’ Seri Dr. Isahak, Dato’ Lim Kheng Yew, Dato’ Seri Ir. Mohamad Othman, Datuk Seri Rahadian Mahmud, and Dato’ Mohd Azmi for their many contributions over the years to KYM Group. I wish them much success in their future endeavors,” said Mr Darren Lee, the Deputy CEO of KYM.