KUALA LUMPUR (March 2): Top Glove Corporation Bhd (KL:TOPGLOV) has appointed its founder's son, Lim Jin Feng, together with executive director Ng Yon Lin, to be joint managing directors to succeed Lim Cheong Guan, who will be retiring from the post on March 31 after 20 years of service with the group.
The two joint MDs will take up the reins from April 1. Cheong Guan, 61, will then continue with the group as corporate director from the same day to assist with the leadership transition, "enabling the company to continue to benefit from his extensive knowledge, experience and longstanding leadership", according to Top Glove's bourse filings.
Jin Feng, 39, is the only son of Top Glove’s founder and controlling shareholder Tan Sri Dr Lim Wee Chai, 68, who holds about 37.9% in the group, including deemed interest. Wee Chai also has a daughter, Lim Ping Jun, who does not hold a role in the company's senior management or board of directors.
Top Glove said the dual leadership structure reflects its commitment to collaborative decision-making and positions the group for sustained growth in a dynamic business environment.
Cheong Guan joined Top Glove in 2005 as financial controller. The group said he had played a pivotal role in corporate exercises and fundraising initiatives during his tenure while strengthening governance and sustainability practices, elevating investor relations and enhancing the company’s global visibility and credibility.
Ng, 40, brings nearly 17 years of leadership experience in manufacturing operations, the group said. Rising through the ranks after joining the group in 2009 as a manufacturing engineer, he has overseen the group's multi-country production ecosystem, it noted. He was appointed chief operating officer in 2021 and then executive director in 2022.
Ng's expertise in navigating complex operational environments and driving productivity will be central to advancing competitiveness and long-term growth, the group said.
As for Jin Feng, Top Glove said his 15 years of experience with the group offer a cross-functional perspective shaped by roles in sales and marketing, manufacturing, and human resources.
He joined the company in 2011 as a sales and marketing executive before advancing to assistant manager in manufacturing, manager in human resources, deputy general manager and then general manager in sales and marketing.
Currently leading the group's strategic initiatives, Top Glove said his holistic insight positions him as the group's driver for strategy, innovation and organisational development.
Shares in Top Glove closed two sen or 3.4% lower at 56 sen on Monday (March 2), valuing the company at RM4.6 billion. The stock has fallen over 38% in the last year.