ComfortDelGro founding managing director steps down

Singapore

COMFORTDELGRO Corporation Limited's founding managing director and group CEO Kua Hong Pak is stepping down after some 14 years at the helm since the group's inception.

He will be succeeded by Yang Ban Seng, CEO of ComfortDelGro Taxis with effect from May 1, the land transport giant said on Friday, when it also announced a 5 per cent rise in net profit for the year ended Dec 31, 2016 to S$317.1 million.

Lower operating and finance costs helped offset a 1.3 per cent drop in group revenu…