SINGAPORE - A new generation has taken over the reins at homegrown retail icon CK Tang.
The company on Tuesday (April 18) named Sean Tang Wen-Wei, 32, the eldest son of Tang Wee Kit, its chief executive officer with immediate effect.
Mr Sean Tang already sits on the board of Tang Holdings, which is run by his father, and CK Tang, which is 98.3 per cent owned by Tang Holdings. Mr Tang Wee Kit is chairman of CK Tang's executive committee.
CK Tang's former chief executive Kevin Dyson left the firm in August last year, following a change in the company's ownership and board of directors. He was CEO for five months.
Dyson, a retail veteran who spent 24 years at iconic American retailer Barneys New York, joined Tangs as chief operating officer in September 2014. He was hired by then-chairman Tang Wee Sung, who retired in August last year.
Mr Tang Wee Sung's retirement was part of a "family succession plan" that began in May 2006. This saw his brother Tang Wee Kit's Tang Holdings take over CK Tang, which were held by several parties, including Tang Wee Sung's Kerith Holdings.
CK Tang - famed for its Orchard Road department store Tangs - was delisted in 2009.