KUALA LUMPUR (Oct 1): Former Attorney-General Tan Sri Abdul Gani Patail has been re-designated from his position of non-executive director to non-executive chairman of Versatile Creative Bhd effective immediately.

Abdul Gani, 63, replaces Datuk Lee Kwee Hiang, 70, who has retired.

According to Versatile's Annual Report 2018, Lee was appointed to the board of Versatile and elected the chairman on Nov 13, 2014.

In a filing with Bursa Malaysia today, the loss-making plastic packaging company said also announced a slew of other boardroom changes following the conclusion of its annual general meeting (AGM) which was held yesterday.

At the AGM, Versatile shareholders voted against five resolutions that were passed. These included resolutions to re-appoint Lee, Datuk Chew Weng Kit, Datuk Eow Kwan Hoong and Chan Feoi Chun as directors.

The company announced the retirement of the three from the board of Versatile in the bourse filing today.

Versatile also announced the retirement of managing director Datuk Wong Kong Choong @ Leong Kong Choong. Wong did not seek re-election at the AGM yesterday.

Versatile has been in the news over alleged financial irregularities. On Aug 21, it announced the dismissal of Wong and chief financial officer Tan Quok Eow from their employment after they failed to satisfactorily answer claims made against them relating to unauthorised payments to third parties totalling RM2.3 million.

At an extraordinary general meeting held on Aug 30, Versatile appointed seven new directors to the board. The seven were Abdul Gani, former Commissioner of Police Datuk Seri Wira Ayub Haji Yaakob, former Agriculture and Agro-based Industry Deputy Minister Datuk Seri Mohd Shariff Omar, former KPMG advisory partner Datuk Hew Lee Lam Sang, lawyer Nicholas Chang Chen Seng; Khat Chee How and Lim Siew Yeng, who is the daughter of Lim Chou Bu, a substantial shareholder in Versatile via his interest in grocer NSK Trading Sdn Bhd.

Versatile shares closed down 8.5 sen or 12.3% today at 60.5 sen, for a market capitalisation of RM78 million.