The committee will oversee and ensure the effective and efficient implementation of all strategic decisions issued by the board to management
[SINGAPORE] Malaysian retail group Duty Free International announced a slew of leadership changes on Monday (Nov 10), including a new chief executive officer (CEO) and chief operating officer (COO).
Lee Kok Khee, who was previously the CEO of Atlan Holdings, will be appointed the CEO of the mainboard-listed company. Atlan Holdings is the Malaysian-listed parent company of Duty Free International.
As CEO of Duty Free International, Lee, 57, will carry out the strategies and policies of the board of directors. He will also oversee the operations and business development of the group’s duty-free, automotive and property segments in Malaysia.
Prior to Atlan Holdings, Lee was at Malaysia’s Kenanga Investment Bank for over two decades, where he rose to the position of head of group equity business. Lee has extensive experience in equity broking, equity derivatives and investment banking, among other things, noted the bourse filing.
Separately, Lee Sze Siang will be redesignated from executive director to COO of Duty Free International, effective Monday.
As COO, Lee will “focus on strengthening operational excellence, driving strategic initiatives and enhancing performance across the group” in his new role, said the group.
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Lee has been executive director of Duty Free International since August 2010, where he was tasked with executing strategic business directions set by the board. His responsibilities also included overseeing the operations and business development of the group, including its financial management and corporate services.
Meanwhile, Khoo Chun Keong, CEO of United Industries Holdings – which is the automotive segment of Duty Free International – was appointed as a key management personnel to support the group’s strategic operational functions. The other key management personnel are the group CEO and COO.
“These appointments reflect the group’s commitment to strengthening its leadership bench and enhancing cross-functional collaboration across its subsidiaries and business units,” said the company’s board.
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The board also announced the formation of a five-person executive committee, which will be chaired by Khee.
“The board believes that the formation of the executive committee will enhance governance oversight and support the group’s strategic execution,” it said.
The committee will oversee and ensure the effective and efficient implementation of all strategic decisions, policies, business plans and directives issued by the board to management. It will also evaluate and make appropriate recommendations to the relevant board committees and the board on matters submitted by the management that require board deliberation and approval.
