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BERNARD Lim Leng Foo, chief executive of premier furniture manufacturer Design Studio Group, has stepped down, with Ku Wei Siong to take over the role from Sept 1.
Mr Ku was previously senior vice-president at CapitaLand GCC Holdings, a subsidiary of CapitaLand, where he was responsible for CapitaLand's investments and joint ventures in the Middle East.
"During his time with the group, Mr Lim created significant value for shareholders by successfully expanding the group's business in our key markets of Singapore, Malaysia and China; and overcoming several challenging market cycles to end his tenure with a commendable run of 37 profitable quarters," said Tan Siok Chin, non-executive chairman. "He leaves the group in a strong position with a capable management team in place, a strong brand name and solid track record with major local and international developers.
Mr Lim's resignation was announced on March 4, citing the pursuit of personal interests as the reason.
"Mr Ku comes with strong credentials and vast experience in the real estate sector. His leadership skills, experience and deep relationships with many of the group's customers will be invaluable to Design Studio Group in its next phase of growth," added Ms Tan.
Following Mr Lim's departure, the group also announced changes to the composition of two of its board committees with effect from July 1.
Mhd Nadim Akhras has been appointed a member of the nominating committee in place of Mr Lim and to the remuneration committee in place of Muhammad Umar Saleem.