KUALA LUMPUR (Dec 4): Berjaya Food Bhd executive chairman Datuk Seri Robin Tan Yeong Ching has resigned from the post effective today to comply with the “best practice of the Malaysian code of corporate governance”.

The 43-year-old son of Berjaya Corp Bhd founder Tan Sri Vincent Tan has been replaced by Datuk Tunku Shazuddin Tunku Sallehuddin, who has been appointed as independent and non-executive chairman.

In a filing with Bursa Malaysia, Berjaya Food said Tunku Shazuddin, 47, is the managing director of interior fit-outs and project management company Seri Libana Sdn Bhd, which handles government contracts, and provides consultancy services to state and government departments, including acquisition of new technologies and funding for various agricultural and tourism initiatives.

On Nov 2, Vincent Tan, who has a 0.26% direct stake and 45.75% indirect stake in Berjaya Food as at Nov 21, announced his return to Berjaya Corp by taking over Robin Tan’s executive chairman post in the group.

Robin Tan however remains as Berjaya Corp’s chief executive officer.

Berjaya Corp owns a 43.55% indirect interest in Berjaya Food as at Aug 8.

Berjaya Corp shares were down two sen or 5.33%  at 35.5 sen, valuing the group at RM1.75 billion. Meanwhile, Berjaya Food shares fell six sen or 3.35% to RM1.73 for a market capitalisation of RM665.34 million.