KUALA LUMPUR (May 20): XOX Bhd’s (KL:XOX) managing director Datuk Kenneth Vun said on Tuesday that he is committed to good governance and transformation.
Every regulatory matter has been addressed and resolved, Vun said in a statement issued by XOX in response to recent press coverage of his corporate leadership and the evolving direction of the loss-making telecommunications and financial technology firm.
“I fully acknowledge the scrutiny that accompanies leadership,” Vun said. “My past is part of my journey, and I do not shy away from it.”
While the statement did not refer to any particular news organisation, The Edge Malaysia has highlighted his past and comeback in “KV returns to Corporate Malaysia with executive roles in XOX, Symphony Life” in the weekly's May 19 to 25, 2025 issue.
Vun was among the seven people who settled a case of alleged stock manipulation with the Securities Commission Malaysia. As part of the consent judgement, they were barred from serving as a director in any public listed company for five years until March 2023.
“Today, I lead with deeper conviction, insight, and a strong sense of responsibility,” Vun said on Tuesday. “Our focus must remain on execution, transformation, and the future we are building for our company, investors, and stakeholders.”
Under Vun’s strategic direction, XOX is undergoing “restructuring and repositioning” aimed at driving sustainable growth and enhancing enterprise value, the company said.
XOX said it is transitioning from a traditional telecom company into a “high-growth, next-generation digital platform” anchored by key growth pillars, including the integration of artificial intelligence, fintech, and consumer data monetisation.
The company also reiterated his over three decades of experience across technology, telecom, capital markets, and business transformation leading companies through both high-growth phases and turnaround cycles.
His appointment at the company reflects a clear mandate to “consolidate leadership, drive innovation, and position the company for regional competitiveness and sustainable value creation”, XOX noted.
“We are not here to operate as usual,” Vun said. “The capital markets will ultimately judge us not by narratives, but by results. That is where our full attention lies.”
Share price of XOX has climbed about 36% since the start of 2025. Vun, who is also the largest shareholder of property developer Symphony Life Bhd (KL:SYMLIFE), was appointed as managing director of XOX on Feb 28.