PETALING JAYA: SP Setia Bhd has revealed a leadership transition following the retirement of its president and CEO Datuk Khor Chap Jen and deputy president and COO Datuk Wong Tuck Wai by the end of September this year.
According to its Bursa disclosure, Datuk Choong Kai Wai will succeed as the group’s president and CEO, while Datuk Koe Peng Kang will take up the role of deputy president and COO effective Oct 1.
It stated that the decision is in line with its leadership talent agenda to sustain its position in the property development market.
SP Setia’s chairman Tan Sri Syed Anwar Jamalullail said he has full confidence in Choong’s leadership given his experience in the domestic and international market.
“We certainly look forward to higher growth plans and enhanced sustainable value creation for all our shareholders with the continued strong leadership at SP Setia,” he told the local bourse.
Syed Anwar also extended his gratitude towards the outgoing CEO and COO for their leadership and commitment during their tenure with the group.
The outgoing Khor was first appointed as acting CEO on Jan 1, 2015 and was subsequently appointed as CEO on April 1, 2016.
Meanwhile, Choong first joined SP Setia in May 2010 as the CEO of Setia (Melbourne) Development Pty Ltd and currently serves as its executive vice-president for its Australian market.
He will be supported by Koe who has taken on various leadership roles for various projects and since joining the group in 1997.
