The Edge Financial Daily - Tropicana founder's son Dion Tan is new MD; CEO Yau retires

Tropicana Corp Bhd has redesignated its executive director, 27-year-old Dion Tan, the son of founder and largest shareholder Tan Sri Danny Tan Chee Sing who has a 30.45% stake in the company, as managing director (MD), effective from yesterday.

Dion's eldest brother, Datuk Dickson Tan Yong Long, is Tropicana's deputy group chief executive officer (CEO), while another brother, Dillon Tan Yong Chin, is an executive director. Meanwhile, Tropicana said CEO Datuk Yau Kok Seng will retire on Nov 30, due to health reasons. The 58-year-old Yau, said the property developer, has held the position since January 2013. He now has a 0.32% stake in the company.

Separately, Datuk Lim Thean Shiang has been appointed Trop-icana's independent and non-executive director, also effective from yesterday. Lim, 46, also sits on the board of several companies within the Felda Global Ventures Holdings Bhd (FGV) group of companies and is an adviser to FGV's investment committee, the group said. He also holds directorships in Daya Materials Bhd, MSM Malaysia Holdings Bhd, Pontian United Plantations Bhd, and the Maritime Institute of Malaysia. Shares in Tropicana closed unchanged at 94 sen apiece yesterday, leaving it with a market capitalisation of RM 1.38 billion.