SINGAPORE (THE BUSINESS TIMES) - Nanofilm Technologies chief executive and executive director Lee Liang Huang, 60, has resigned from his role due to health reasons. His resignation will take effect from Aug 21.
Executive chairman and founder Shi Xu will assume the chief executive role in the interim until Mr Lee's successor is appointed, the group said in a bourse filing on Wednesday (June 23).
Nanofilm's board noted that Dr Shi was the company's chief executive from 1999 to 2017 and is most suited to take on the role due to his extensive experience and knowledge of the group's business.
The board made the interim appointment after taking into consideration that Mr Lee will have to take regular time off to attend to his health before the effective date of his resignation. Time is also needed to source and identify a new chief executive candidate.
"The board wishes to express its sincere appreciation to Lee Liang Huang for his contributions to the group during his tenure as the CEO of the company," Nanofilm said.
Shares of mainboard-listed Nanofilm were trading at $5.39 at 10.45am on Wednesday, down one cent or 0.2 per cent, after the announcement.