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Executive director and CEO of United Food Holdings resigns

EXECUTIVE director and CEO of United Food Holdings (UFH) Wang Tingbao has resigned with effect from Friday.

He has also ceased to be deputy chairman of the company.

The board of UFH thanked Mr Wang for his "clear leadership, direction and invaluable contributions" to the company.

In a Singapore Exchange filing on Friday, UFH revealed that the group is also in the process of restructuring its business to improve shareholder value.

It is repositioning its executives to ensure its management aligns with its business development strategy.

UFH said it is planning to appoint a chief marketing officer and will update the shareholders in due course.

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