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Jumbo CEO relinquishes chairmanship to lead independent director

JUMBO chief executive Ang Kiam Meng is handing over the chairmanship of the board to lead independent director Tan Cher Liang to focus on the restaurant chain's next stage of growth, the company announced on Tuesday.

Mr Ang, who has been executive chairman and CEO since Jumbo's 2015 initial public offering, will now be executive director and group CEO.

Mr Tan, who co-founded corporate services group Boardroom, will be independent chairman.

The boardroom change comes after Jumbo reported a 46.3 per cent increase in 12-month profit to S$15.5 million for the year ended Sept 30, 2016.

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