GUOCOLAND : F17 0% chairman Moses Lee Kim Poo has stepped down after almost nine years on the company’s board.

In a bourse filing, GuocoLand said Lee did not seek re-election at the company’s annual general meeting (AGM) on Friday (Oct 14) after having served on the board since Nov 1, 2013. He will also cease to be an independent director at the company.

Tycoon Quek Leng Chan was appointed by the board to succeed Lee as chairman at the conclusion of the AGM.

Shares of GuocoLand climbed 1.2 per cent or S$0.02 to S$1.64 on Friday, before the filing.