Cuscapi Bhd Chief Executive Officer Fang Kok Hong, also known as Peter Fang, has resigned from his position amid significant changes in the company’s shareholding structure, including the exit of former major shareholder Wong Thean Soon.
In a filing the technology solutions provider said Fang, 50, had stepped down due to personal commitments.
The company confirmed that there were no disagreements between Fang and its board of directors concerning his departure.
Fang, who was appointed CEO on June 1, 2022, has more than 20 years of experience in management and information technology, specialising in business strategy, management consulting, project delivery, product development, research and development, and IT operations.
His departure comes weeks after Wong Thean Soon, better known as TS Wong, ceased to be a substantial shareholder of Cuscapi following the disposal of approximately 103.6 million shares.
Wong, who is also the managing director of MyEG Services Bhd and founder of Zetrix AI Bhd, disposed of 99.12 million shares through a direct business transaction, alongside another 4.5 million shares held indirectly through Asia Internet Holdings Sdn Bhd.
The transactions, undertaken on Sept 11, resulted in Wong ceasing to be a substantial shareholder on Sept 17.
Wong had previously held a combined direct and indirect interest of approximately 28% in Cuscapi before substantially reducing his holdings.
