SINGAPORE - Darco Water Technologies chairman Thye Kim Meng has relinquished his chairmanship, but will continue to implement the group's current growth strategy and policies as the managing director and chief executive officer with effect from May 8, 2018. The water treatment company announced the redesignation on Tuesday evening (May 8).

Wang Yaoyu, an executive director, will be re-designated as the executive chairman with effect from the same date, while Wang Zhi, a non-executive director, will be re-designated as the non-executive deputy chairman of the company.

Mr Wang Yaoyu and Mr Wang Zhi will have shared responsibilities and will work together with the management to set policies and goals to increase shareholders' value, the company said.