China Press - 18 June 2015 - Tropicana Corporation founder retirement
18 June 2015
Property developer Tropicana Corporation Bhd founder Tan Sri Danny Tan Chee Sing today retired as Group Executive Vice Chairman and relinquished his day-to-day management role in the Group to his eldest son.
Danny said: “I have turned 60 this year and after having dedicated more than three and a half decades of my life to the business, it’s timely to pass the baton to the new generation of leadership.
“I founded the Group in 1992 and I am very proud of Tropicana’s achievement today, being one of the top 10 property developers in Malaysia with a record revenue of close to RM2 billion and total assets over RM7.2 billion in 2014.”
Tropicana Chairman Tan Sri Rastam bin Mohd Isa said: “The Board respects Tan Sri Dato’ Danny's decision to retire from an active corporate role in the company, we take comfort in the knowledge that we will continue to have his advice and guidance at all times, as we endeavour to take the Tropicana Group to a higher level and in its position as a premier property developer in Malaysia.”
Tropicana also announced several changes in its boardroom, Datuk Seri Mohamad Norza Zakaria appointed as independent non-executive deputy chairman. Meanwhile, Danny’s third son Dion Tan Yong Chien was appointed Executive Director and Datuk Larry Gan Nyap Liou @ Gan Nyap Liow becoming Senior Independent Non-Executive Director.
Diana Tan Sheik Ni has stepped down as Executive Director while Datuk Francis Ng Tian Sang @ Ng Kek Chuan and Datuk Seri Mohd Annuar Zaini have retired as Independent Non-Executive Director.
The new line up and changes in The Board will see four out of ten Directors in Tropicana being independent non-executive directors. With the new Board composition, the Group is expected to further strengthen its commitment of delivering innovative and quality products that enhances shareholders’ value.