KUALA LUMPUR: Green Packet Bhd appointed Tan Kay Yen, 42, as its chief executive officer (CEO) yesterday, taking the helm from founder Puan Chan Cheong, 45, who is moving on to head Packet One Networks (Malaysia) Sdn Bhd (P1) as its CEO and managing director.

Prior to this appointment, Tan was Green Packet’s acting group chief financial officer and chief operating officer, from 2013 and 2006, respectively. He started off in the group as director of corporate development back in 2005.

“Kay (Tan) has been overseeing the day to day operations for the key business divisions of Green Packet, namely the Solutions and Communications pillar together with corporate development, strategic planning and finance functions since joining us,” Puan said in a statement yesterday.

“We have put Kay in the driver’s seat since Puan took over full time at P1 back in 2013. I, on behalf of the board, am glad to say that we have full confidence in Kay and that he has shown to have all the leadership capabilities to continue to bring important and positive impact for the group,” said Green Packet chairman Tan Sri Dr Omar Abdul Rahman.

The group has a subscriber base of 96 million, the statement added.

In a separate filing with Bursa Malaysia, Green Packet disclosed that its non-independent non-executive director Tan Sri Kok Onn had acquired 525,800 shares in the company in the open market yesterday, bringing his direct stake in Green Packet to 0.197% or 1.35 million shares. He also has an indirect stake of 20.56% in the company — or 141 million shares — which is held via Green Packet Holdings Ltd.

Green Packet closed one sen down at 35.5 sen yesterday, with 4,183,700 shares traded, bringing its market capitalisation to RM246.86 million.


This article first appeared in The Edge Financial Daily, on October 8, 2014.