KUALA LUMPUR (Jan 13): Stella Holdings Bhd has appointed Datuk Lau Beng Wei as executive deputy chairman effective Jan 13.

In a filing to Bursa Malaysia on Friday (Jan 13), Stella said Beng Wei is the brother of managing director Datuk Lau Beng Sin and a major shareholder of the group.

Beng Wei has direct interest of 15.01 million shares or 22.40% and indirect interest of 8.11 million shares (12.11%) in Stella.

Beng Wei started his career with Tenaga Nasional Bhd (TNB), where he held various positions within TNB from 1990 to 2003. He was appointed as the independent non-executive director of TNB with effect from Dec 1, 2021.

Meanwhile, Manivannan Ganapathy was appointed executive director effective Jan 17. Manivannan started his career in the stockbroking industry at TA Securities Sdn Bhd as a management trainee from 1989 to 1990. He then became a remisier in 1990 and continued for a period of 32 years up until October 2022.

Datuk Jamaluddin Sabeh was appointed independent director effective Jan 13, and was subsequently appointed as the chairman of remuneration committee and an audit committee member.

Stella also announced a series of resignations, including Datuk Mohamad Haslah Mohamad Amin, who stepped down as non-executive chairman, effective Jan 14, to pursue other interests.

Mohamad Nor Abas resigned as independent director, and Datuk Seri Lee Tian Hock resigned as non-executive non-independent director effective Jan 14. Mohamad Nor also ceased to be a member of audit and risk committee.