PRIVATE cord-blood bank Cordlife’s group chief executive officer Yiu Pang Fai, 35, has tendered his resignation “to pursue other opportunities” and its board of directors has accepted his decision.
His effective date of cessation will be Feb 28, 2025, Cordlife said in a Wednesday (Feb 12) bourse filing.
The group has commenced the search for a new group CEO and said it would make an “appropriate announcement” when one is appointed.
Cordlife said: “Yiu informed the company that he has resigned as the group CEO… (he) will remain available to facilitate a smooth handover of remaining responsibilities.”
It added: “The board wishes to put on record its appreciation for Mr Yiu’s contribution during his tenure.”
He was appointed as Cordlife’s group CEO around a year earlier on Feb 19, 2024.
The company disclosed then that his brother Yiu Ming Yiu is a non-independent, non-executive director of Cordlife. His father Yiu Chi Shing and his mother Lui Yim Sheung are deemed interested in Cordlife shares held by TransGlobal Real Estate Group, a controlling shareholder of the healthcare group.
Yiu Pang Fai was formerly an executive director of TransGlobal’s family office division in Hong Kong prior to his appointment as Cordlife’s group CEO.
Shares of Cordlife closed 1.2 per cent or S$0.002 lower at S$0.159 on Tuesday.
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