Star Media Group chairman Fu Ah Kiow resigns shortly after CEO appointed

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Fu Ah Kiow, Star Media Group's independent non-executive chairman, has resigned as director and chairman of the board. Fu (pictured) said it is time to give way to new leadership, adding that he wished to spend more time with his family. He was first appointed as independent non-executive chairman on 27 February 2014 and board chairman on 21 May 2014.

According to Fu, Star Media Group now has "a capable, united, dedicated and young top management team" following its restructuring exercise. Just last week, the Group appointed Alex Yeow as its group CEO. He was previously the group CEO and executive director of Tropicana Corp. Meanwhile in January this year, it promoted group CTO Kang Yew Jin to COO, digital and print; assistant GM, IT services Kevin Seng to GM, technology to lead the technology department; and acting assistant manager, marketing Calvin Tan to manager, marketing.

Late last year, Star Media Group embarked on a retrenchment exercise after its mutual separation scheme (MSS) "did not yield the expected headcount reduction that would have helped the Group cushion the impact of the sustained soft business," CFO Sam Au said in an internal memo seen by A+M previously.

With Yeow at helm, Fu expressed confidence that the transformation programmes would eventually bear fruit and propel the group to new heights. He also urged all directors, management and staff to give Yeow their fullest support and cooperation to ensure the future success of the group. Fu will also relinquish his chairmanship of Star Foundation, Star Media Group's charity arm.

Fu said it had been an honour and privilege to serve in the board of Star Media Group. He also extended his gratitude to all directors, management and staff for their support, cooperation, patience and understanding during his tenure as chairman of the Board.

The board expressed its utmost gratitude to Dato’ Fu for his tremendous contribution and stewardship to the Group. The board said it will make the necessary effort to identify a suitable candidate to fill the vacancy as soon as possible.

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