Darco chief exec Thye Kim Meng to step down; new CEO and COO identified

MAINBOARD-LISTED Darco Water Technologies' chief executive officer (CEO) Thye Kim Meng will cease being the company's CEO, with his successor identified.

In a regulatory filing on Thursday, the water treatment company noted that it would like to express its appreciation to Mr Thye for his services and contributions, and that "a new CEO and chief operating officer (COO) has been identified, pending the completion of the necessary documents and declarations".

It added that further announcements will be made when the new appointments are confirmed.

In the interim, executive chairman, Wang Yaoyu, will serve as acting CEO from June 1, 2019 until the new CEO is appointed, the company said.

The counter last traded flat at S$0.41 on May 8.