MISC Berhad (“MISC”) wishes to announce the appointment of Mr. Yee Yang Chien as the new President and Chief Executive Officer of MISC with effect from 1 January 2015 in place of YBhg. Datuk Nasarudin Md Idris who will be retiring on 31 December 2014.
YBhg Datuk Nasarudin Md Idris had served MISC as Non-Independent Non-Executive Director from 2004 to June 2010, and subsequently as President and CEO, and Non-Independent Executive Director of MISC since June 2010. YBhg Datuk Nasarudin will continue to remain on the MISC Board as a Non-Independent Non-Executive Director effective from 1 January 2015.
Mr Yee Yang Chien was appointed as Chief Operating Officer of MISC on 1 July 2013 and also held the position of Vice President, Corporate Planning and Development of MISC since 1 April 2008. With his appointment as President and Chief Executive Officer, Mr Yee Yang Chien will also be appointed as the Non-Independent Executive Director of MISC effective from 1 January 2015.
Mr Yee Yang Chien holds a double-degree in Financial Accounting/Management and Economics from University of Sheffield, United Kingdom. He began his working career as an auditor, undertaking both external and internal audit assignments. From these formative years as an auditor, Mr Yee Yang Chien progressed on to equity research and investment banking work with various local and international financial institutions over a span of 10 years.
Mr Yee Yang Chien first joined MISC in 2001 as Senior Manager of Research and Evaluation of the Corporate Planning and Development Unit. During this period, he led the execution team that acquired MISC’s petroleum tanker subsidiary, the AET Group, which propelled MISC into a global petroleum tanker owner and operator. He subsequently joined AET as Group Vice President of Corporate Planning in June 2005. At AET, Mr Yee Yang Chien oversaw the strategic planning activities of the company and was also responsible for the expansion and development of the operating fleet of the company.
Mr Yee Yang Chien returned to MISC in April 2008 as the Vice President of Corporate Planning and Development, focusing on strategic planning and budget development for the Group. He also led various mergers and acquisitions, business and asset rationalisation as well as risk management activities of the Group. This included the investment of MISC’s investment into VTTI, a global tank terminal company, and the exit from the liner business in 2010.
In his role as the Chief Operating Officer of MISC since July 2013, he was also given oversight over the Group Finance and Human Resource functions as well as the Chemical Tanker Business unit.
Mr Yee Yang Chien sits on the Board of Malaysia Marine and Heavy Engineering Holdings Bhd (MHB), MISC’s listed heavy engineering and fabrication subsidiary as well as several subsidiaries and joint venture companies such as AET and VTTI.
This announcement is dated 12 December 2014.