Faiqah Kamaruddin

KUALA LUMPUR: KYM Holdings Bhd (KYM) has redesignated its current chief executive officer (CEO) Lim Tze Thean as executive chairman and announced Darren Lee as its new CEO.

The company said the appointment is in accordance with the Malaysian Code of Corporate Governance 2021, which mandates separate individuals to hold the roles of chairman and CEO.

KYM said in a filing with Bursa Malaysia, Darren joined the company in November 2014 as a non-independent non-executive director, became deputy CEO and executive director on 1 June 2022, and will assume the role of CEO on 1 July 2023, leading the executive team.

Before becoming the deputy CEO, Darren was a member of the Audit & Risk Management Committee responsible for supervising financial reporting, internal controls, and the implementation of risk management processes.

Lim said the board is looking forward to the company's new season of growth.

"Darren has proven ability in the areas of corporate strategy, operational execution as well as a strong reputation for innovation and cooperation in his M&A track record.

"As KYM's Deputy chief executive officer, he showed a willingness to enter the trenches with our production teams whilst playing a key role in advancing sustainability initiatives.

These last 12 months were spent getting KYM ready to explore new business opportunities with a modest 8 figure war-chest for acquisitions and expansions," he said in a statement.

Lim, who served as chief executive officer of KYM for 11 years, steps down from the role but continues as executive chairman to provide continuity and guidance to the executive team.

"As the CEO, value creation stands as my utmost priority. My immediate focus is to diligently seek new business opportunities in a bid to future-proof our business and to affect a valuation shift."

"I shall also further integrate sustainability efforts in our operations as well as product innovation and enhance our ESG framework," Darren said.