Green Packet appoints new CEO to replace founder Puan

by **Cals** Tue 07 Oct 2014, 23:38

Business & Markets 2014

Written by Chester Tay of theedgemalaysia.com

Tuesday, 07 October 2014 18:52

KUALA LUMPUR (Oct 7): Green Packet Bhd (GPB) has announced the appointment of Tan Kay Yen (Kay Tan) as its new chief executive officer (CEO) today, taking the helm from founder Puan Chan Cheong, who is moving on to head Packet One Networks (Malaysia) Sdn Bhd (P1) as its CEO and managing director.
Prior to this appointment, Tan was GPB's acting group chief financial officer cum chief operating officer, which he held from 2013 and 2006, respectively. He started off in the group as director of corporate development back in 2005.
“Kay (Tan) has been overseeing the day to day operations for the key business divisions of Green Packet (GPB), namely the Solutions and Communications pillar together with corporate development, strategic planning and finance functions since joining us,” Puan said in a statement released by the group.
“We have put Kay (Tan) in the driver’s seat since Puan took over full time at P1 back in 2013. I, on behalf of the board, am glad to say that we have full confidence in Kay and that he has shown to have all the leadership capabilities to continue to bring important and positive impact for the group,” said GPB chairman Tan Sri Dr Omar Abdul Rahman.
The group currently has a subscriber base of 96 million, the statement added.
Meanwhile, in a filing to Bursa Malaysia today, GPB disclosed that its non-independent non-executive director Tan Sri Kok Onn has acquired 525,800 shares in the company via the open market today, which has brought his direct stake in GPB to 0.197% or 1.35 million shares. He also has an indirect stake of 20.56% in the company – or 141 million shares – which is held via Green Packet Holdings Ltd.
GPB closed 1 sen down at 35.5 sen today, with 4,183,700 shares traded, bringing its market capitalisation to RM246.86 million.