Qian Hu Executive Chairman Kenny Yap Retires; The CEO will take on an additional role

QIAN HuExecutive chairman Kenny Yap will step down as director at the end of the year, and chief executive Yap Kok Cheng will also assume the position, the ornamental fish services provider announced on Thursday (Oct. 3) in a regulatory filing. ).

Yap Kok Cheng will be appointed executive chairman and chief executive officer effective January 1, 2025. His uncle, Kenny Yap, has agreed to serve as an advisor to the board without compensation.

Yap Kok Cheng joined the listed group as a management trainee in 2005 and in 2016 was appointed general manager of the China division, responsible for business development in the country as well as leading the group’s new aquaculture business.

The 45-year-old took over the role of CEO in 2021 from Kenny Yap, who had led the company since 1998 and led Qian Hu’s listing on the stock exchange.

“In 2005, approximately five years after Qian Hu was listed, we began a management apprenticeship program with the goal of selecting a succession team before I turned 55. However, this year we were in the middle of a pandemic, so I waited another year to announce my successor – that was in 2021,” said Kenny.

On Thursday, ahead of the announcement, Qian Hu’s shares fell 0.7 percent, or A$0.001, to A$0.139.