Eindec names CFO as acting chief executive

CATALIST-LISTED cleanroom equipment and air-purifier maker Eindec Corporation has appointed its chief financial officer (CFO) Queenie Foo Quek Cheng, 39, to take on the additional role as acting chief executive officer (CEO) of the company, with effect from Dec 19.

This comes as Tay Meng Heng, 52, CFO of Weiye Holdings, the parent and controlling shareholder of Eindec Corp, has resigned with effect from the same date, to take a career break, the company said in a regulatory filing on Friday.

Mr Tay was appointed as acting CEO of Eindec Corp on Dec 26, 2017, following the resignation of the then CEO. He tendered his resignation on Aug 5, 2019, and reaffirmed his decision to resign as Weiye's CFO in end November, the company said.

The sponsor, after having interviewed Mr Tay, is satisfied that there are no material reasons for the cessation of Mr Tay as the acting CEO of the company, other than those disclosed in this announcement.

With support from the management team, Mr Tay was responsible for the group's overall business performance and operations.

The company is now in the midst of finding a suitable candidate for the position of CEO. In the interim, Ms Foo will manage and oversee the group's overall business and activities. She will report to Zhang Wei, who is the non-executive chairman of the company, and executive chairman and CEO of Weiye Holdings.

Ms Foo first joined Eindec Corp in August 2017. Concurrent with her appointment, she will also be appointed as a director of the company's subsidiaries, Eindec Holdings and Eindec Singapore.

Shares in Eindec Corp last traded at 2.7 Singapore cents on July 24, up 8 per cent, or 0.2 cent.