KUALA LUMPUR (Dec 2): Kelington Group Bhd (KL:KGB) said on Tuesday that its founder and chief executive officer Gan Hung Keng will relinquish one of his two top executive roles in order to align with prevailing corporate governance code.

Gan, 61, will relinquish his position as chief executive officer while continuing to serve as its executive chairman, Kelington said in its filing.

Concurrently, Singaporean Lim Seng Chuan, 57, is set to assume the CEO role, effective Jan 1, 2026, said the engineering solutions provider.

Gan, 61, otherwise will "remain actively involved in the management of the group" and will support Lim during the transition period to ensure operational continuity.

"This change aligns with the Malaysian Code on Corporate Governance, which recommends that the roles of CEO and chairman of a company should not be held by the same individual, and is part of the company's ongoing leadership succession planning," Kelington's filing read.

Gan has helmed Kelington since its founding. He has served as executive director and chairman since Feb 14, 2000, and later took on the role of managing director in November 2004 before becoming CEO on Sept 1, 2009.

His tenure saw Kelington expanding into high-purity gas and engineering solutions across Asia, according to the company.

Meanwhile, incoming CEO Lim had served as managing director of Kelington Engineering (Singapore) Pte Ltd — one of the group’s subsidiaries and a major revenue contributor.

Under Lim's leadership, the Singapore unit expanded Kelington’s footprint into Germany, India and Japan, the company said.

“Lim’s proven track record in driving business expansion, operational excellence and international growth positions him to lead Kelington into its next phase of strategic development and global expansion,” the company said.

It also highlighted that Lim’s fluency in Japanese, English, Malay and Chinese further strengthens the group’s ability to manage international operations and engage with diverse stakeholders.

Shares of Kelington closed six sen or 1.15% lower at RM5.14 on Tuesday, valuing the group at RM4 billion. The stock has gained more than 45% year to date.