Malaysia's Cycle & Carriage CEO resigns

Cycle & Carriage Bintang Bhd (CCB) has announced the resignation of its chief executive officer Datuk Wong Kin Foo.Dato Wong was with the company’s CEO since March 2010, responsible for the group's motor operations in Malaysia. He will step down with immediate effect from 31 August to pursue “other interests and opportunities outside the company”, CCB said in a filing with Bursa last Friday. He is expected to serve out his notice period and take accumulated leave, with his last day of employment on 30 September 2016.Cycle & Carriage has confirmed the move to A+M.CCB added it will appoint Ramasamy Devaraju, the current director of operations on 1 September to temporarily manage the day-to-day operations of the company until a permanent successor is announced.Devaraju has been with the CCB group since 2004 with his previous position being director of after sales. He is responsible for several portfolios including retail operations, after sales and insurance services under his role as director of operations.