KUALA LUMPUR (April 15): Guan Chong Bhd chairman Datuk Dr Mohamad Musa Md Jamil has resigned effective immediately after 16 years in the role, citing other personal commitments as the reason for his departure.

Guan Chong independent director Tan Ah Lai replaces Mohamad Musa in the role. The 52-year-old, who has served on the board of directors since 2009, is also the independent non-executive director of property group Crescendo Corp Bhd.

The 75-year-old Mohamad Musa was first appointed as executive chairman of the cocoa grinder on Jan 8, 2005, Guan Chong said in its company filing today. The agriculture veteran was re-designated as non-independent non-executive chairman on April 1, 2013.

Guan Chong also announced the resignation of Datuk Tay Puay Chuan as its independent non-executive director, also due to other personal commitments. Tay, 57, joined the board of Guan Chong in January 2005.

Currently, he holds directorships at Sern Kou Resources Bhd and Homeritz Corp Bhd.

Shares of Guan Chong Bhd were down 5 sen or 1.66% to close at RM2.97 today, valuing the group at RM3.08 billion. Year to date, the counter has gained 36.87%.