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UG Healthcare to appoint new CEO

EXAMINATION glove manufacturer UG Healthcare will have a change in its chief executive, as current CEO Ang Beng Teck retires.

In an exchange filing on Wednesday, the group said that Mr Ang, 69, will not offer himself for re-election as director at its annual general meeting on Oct 19. He will also relinquish his CEO position that same day.

Meanwhile, non-executive director Lee Keck Keong, a co-founder of the group, will be re-designated as executive director, and be appointed as CEO on Oct 19. Mr Lee, 62, is the father of the firm's executive directors Lee Jun Yih and Lee Jun Linn.

Mr Ang, who was appointed to his current position in September 2014, holds 28.1 million shares in UG Healthcare. He will assume an advisory role in the group following his retirement to facilitate the transition.