Qian Hu executive chairman Kenny Yap to retire; CEO to take on additional role
Yap has agreed to be an adviser to the board of directors without remuneration
QIAN Hu ’s executive chairman Kenny Yap will retire from the directorial role at the end of the year, with chief executive officer Yap Kok Cheng stepping up to assume the post as well, the ornamental fish service provider announced in a regulatory filing on Thursday (Oct 3).
Yap Kok Cheng will be redesignated as executive chairman and CEO from Jan 1, 2025.
His uncle, Kenny Yap, has agreed to be an adviser to the board of directors without remuneration.
Yap Kok Cheng joined the mainboard-listed group as a management trainee in 2005, and was appointed general manager of its China operations in 2016, responsible for business development there, as well as driving the group’s new aquaculture business.
The 45-year-old took over the role of CEO in 2021 from Kenny Yap, who had been at the helm since 1998 and brought Qian Hu to be listed on the bourse. Kenny Yap is 59 this year.
“In 2005, some five years after Qian Hu listed, we started a management trainee programme with the aim of identifying a succession team by the time I reach the age of 55. However, that year we were in the midst of the pandemic, so I waited another year to announce my successor – that was in 2021,” Kenny Yap said.
Qian Hu shares closed 0.7 per cent or S$0.001 lower at S$0.139 on Thursday.
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