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YuuZoo announces departure of former CEO as non-executive director

TROUBLED social media company YuuZoo Networks Group Corp has announced the cessation of Mohandas, its former chief executive officer (CEO) who goes by one name only, as a non-executive director.

This is with effect from Apr 15 and for a "personal reason", it said in a regulatory filing on Wednesday evening after market close.

However, Mr Mohandas had earlier maintained that he had never taken up the role of non-executive director.

In YuuZoo's filing, the date of appointment to his "current position" was given as Apr 10, 2018. But that is the date when Mr Mohandas was appointed YuuZoo's CEO.

Mr Mohandas resigned as CEO on March 5, and refuted an announcement on March 18 that designated him as a non-executive director, saying instead that he no longer holds any role in the company.

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As announced on Wednesday, Mr Mohandas' departure is the fourth in the last 12 months under Listing Rule 704 (7), which relates to any director, CEO, or equivalent rank.

In March, YuuZoo announced it was closing its operations in Singapore and was unable to pay local salaries, including that of Mr Mohandas. In April last year, the company said it was being investigated by the Commercial Affairs Department for possible breaches of the Securities and Futures Act.

Trading in YuuZoo shares has been suspended since March 2018.

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