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Serrano CEO quits, stays on as corporate adviser to board

THE chief executive of Catalist-listed interior designer Serrano has quit during his probation period, the company disclosed in a bourse filing on Friday.

Tan Han Beng, who joined on March 25, left the role on Friday but will stay on with the company as a corporate adviser to the board.

Listing sponsor PrimePartners Corporate Finance said it was satisfied that there are no material reasons for Mr Tan's departure, as stated in the company's announcement.

Mr Tan, 43, was previously the director of continuing sponsorship at PrimePartners Corporate Finance from 2014 to 2018.

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Executive chairman Winston Tan will take over Mr Tan's responsibilities of managing the group's business and overseeing the board's strategic plans, Serrano added.

The departure of the CEO comes a week after independent director Tan Ngiap Siew retired without seeking re-election. Serrano has said that it will look for a replacement.

Trading in Serrano's shares has been suspended since June 2017, after the company and a subsidiary went under schemes of arrangement to restructure group debt.