IJM credits Krishnan Tan for his leadership, says retirement long planned, strategy unchanged

KUALA LUMPUR (July 29): IJM Corp Bhd (KL:IJM) said the retirement of chairman Tan Sri Krishnan Tan (pictured) had been long in the works at the construction-and-infrastructure company.

The decision was long planned and follows Tan's earlier indication that his current term on the board would be his last, IJM said in a statement on Wednesday after he declined to seek re-election at the upcoming annual general meeting. The company also thanked him for his long service.

“Throughout his tenure, Tan played an instrumental role in IJM's formation and growth, serving in successive leadership positions as the group evolved into one of Malaysia's leading diversified construction and infrastructure groups,” the company said.

Tan, 73, first joined IJM’s board on June 12, 1984 as an alternate director and went on to hold various senior positions within the group, including financial controller, director, deputy managing director, group managing director, chief executive officer and managing director, and deputy chairman.

He was appointed chairman on Aug 29, 2019.

“He believes the timing is appropriate, with the voluntary takeover offer concluded, the relevant MACC investigations brought to a close with no further action, and the group well positioned to execute its next phase of growth,” IJM said.

Tan’s retirement is part of an “orderly leadership transition, and the group's strategy, management team and business priorities remain unchanged as IJM continues executing its long-term growth plans”, the company added.

..........

Read about emerging trends, data-backed insights, growing subsectors, and expert commentaries in EdgeProp print. Subscribe now for your free copy!