Public Bank Group has announced that its founder and Chairman Emeritus, Tan Sri Dato’ Sri Dr. Teh Hong Piow, has passed away peacefully at 10:20 am today at the age of 92.
The group in a press statement said Tan Sri Teh’s passing is a great loss to the bank and on behalf of the Board, Management, and staff of the Public Bank Group extends its most heartfelt condolences and deepest sympathies to Tan Sri Teh’s family.
Tan Sri Teh founded Public Bank in 1965 at the age of 35. He was appointed as the Chief Executive Officer and Managing Director of Public Bank since its commencement of business operations on August 1966. He relinquished his CEO position and was redesignated as Non-Executive Chairman of Public Bank on 1 July 2002. He retired as the Non-Executive Chairman of Public Bank on 31 December 2018, and was conferred the title of Chairman Emeritus and Adviser of Public Bank on 1 January 2019, and remained as a Non-Executive Director on the Board of Public Bank.
Throughout his life, Tan Sri Teh had dedicated himself to building Public Bank as a strong banking group in Malaysia in support of the banking and finance industry. Tan Sri Teh had built a solid foundation and cultivated a strong corporate culture with a resilient business model for the Public Bank Group to continue on a solid growth path while navigating through challenges throughout the years. Upon relinquishing his CEO position in 2002, Tan Sri Teh with his visionary foresight had put in place a clear management succession plan and groomed a strong management team that had continued to drive and manage the growth of the Public Bank Group.
With the strong foundation and the excellent corporate culture built by Tan Sri Teh, the management team had continued to lead the Public Bank Group to greater heights since 2002. The Board, Management, and staff of the Public Bank Group would like to pay a special tribute for the immeasurable contributions Tan Sri Teh had made to the Public Bank Group. Public Bank has lost an amazing and visionary leader. Tan Sri Teh left behind a great organisation that only he could have built, and his legacy will be the perpetual foundation of the Public Bank Group.
