Vincent Tan returns to BCorp as executive chairman

PETALING JAYA: Tan Sri Vincent Tan Chee Yioun (pic), who relinquished the chairmanship of Berjaya Corp Bhd (BCorp) in February 2012 to focus on charitable and social programmes, has returned as executive chairman of the group he founded.

In a statement yesterday, the well-diversified group said his eldest son, Datuk Seri Robin Tan Yeong Ching, 43, would give up his position as chairman with immediate effect, but will remain as its chief executive officer.

Vincent announced his retirement from the board of BCorp on Feb 23, 2012 – two days before his 60th birthday – citing his wish to focus on his philanthropic work.

According to BCorp’s statement to the stock exchange that day, Robin was only to hold the chairman’s post until the board identified and selected a suitable candidate to fill it.

Vincent’s return yesterday came at a time when the group was facing a challenging operating environment. BCorp returned to the black in the financial year ended April 30, 2017, but it is not out of the woods yet based on the loss attributable to shareholders of RM43.4mil reported for the first quarter of this financial year.

In yesterday’s announcement, BCorp said during Vincent’s five-year-plus hiatus from the board, he had embarked on various charitable and social programmes and initiatives. However, he had also continued to explore new business opportunities for the BCorp group as its founder and adviser.