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Halcyon Agri replaces CEO with controlling shareholder’s CFO

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Tay Peck Gek

Tay Peck Gek

Published Tue, Mar 12, 2024 · 07:33 PM
    • Li Xuetao has relinquished the executive director and CEO positions at Halcyon Agri.
    • Li Xuetao has relinquished the executive director and CEO positions at Halcyon Agri. PHOTO: HALCYON AGRI

    HALCYON Agri has appointed the chief financial officer of its controlling shareholder Hainan Rubber Group (HRG) to replace its chief executive officer (CEO), with immediate effect.

    The mainboard-listed rubber producer announced in a regulatory statement on Tuesday (Mar 12) that 56-year-old Sun Weiliang will take over from Li Xuetao as CEO. Li, 53, will relinquish the executive director position as well, and be assigned a post by HRG.

    Halcyon Agri said the appointment is in line with HRG’s “strategic development and needs”.

    Halcyon Agri shares have not been trading since April 2023 because its public float has fallen below 10 per cent.

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