KUALA LUMPUR (June 8): Ge-Shen Corp Bhd's newly appointed executive director Keh Chuan Seng has been redesignated as the group's executive chairman, effective Thursday (June 8).

Keh, 51, was appointed as the plastic injection moulding and metal stamping group’s executive director on Tuesday, together with Lee Hai Peng, 56.

Keh was also recently appointed as the executive chairman of waste recycling company Tex Cycle Technology (M) Bhd after he surfaced as a major shareholder of the company with an indirect 26.43% interest.

Lee, meanwhile, is also an executive director of K. Seng Seng Corp Bhd.

Ge-Shen also announced on Thursday the resignations of its independent and non-executive chairman Chew Hoy Ping, 65, and independent and non-executive director Ooi Hooi Kiang, 54, due “to personal reasons”.

The group has appointed Ho Ai Hoon, 39, as its new independent and non-executive director, replacing Ooi. She is a fellow member of the Association of Chartered Certified Accountants and the Malaysian Institute of Accountants,

“Ho has more than 10 years of audit, financial reporting, corporate finance and consulting experience,” said Ge-Shen.

On Tuesday, Ge-Shen announced the redesignation of Louis Lau Pong Kiet from joint chief executive officer (joint CEO) to CEO, along with the appointments of Keh and Lee.

The group also announced the resignations of its former joint CEO Chan Choong Kong, non-executive directors Datuk Tee Siew Kong and Datuk Yeo Chun Sing from the group's board.

Ge-Shen's share price closed unchanged at RM1.45 on Thursday, with a market capitalisation of RM160.27 million.