KUALA LUMPUR (March 24): Fraser & Neave Holdings Bhd (KL:F&N) on Tuesday named former Dutch Lady Milk Industries Bhd (KL:DLADY) managing director Tarang Gupta as chief executive officer designate, effective July 1.

Gupta will succeed current CEO Lim Yew Hoe, who will retire on Sept 30 after more than 11 years with the company. F&N said Lim will continue to lead the group during the transition and work closely with Gupta to ensure a smooth handover.

Gupta will assume the role of CEO on Oct 1. With over 24 years of experience in the fast-moving consumer goods sector, he has held senior leadership roles across Asia and Africa, F&N said in a statement.

He most recently led Dutch multinational dairy cooperative Royal FrieslandCampina’s business in the Philippines through its subsidiary, Alaska Milk Corporation, and previously served as MD of Dutch Lady in Malaysia and Singapore.

F&N chairman Tengku Syed Badarudin Jamalullail commended Lim’s contribution to the group, saying he strengthened the group’s market position, operational discipline and business resilience during his leadership. The group also advanced its integrated dairy development platform under his stewardship, to enhance supply resilience and support the development of Malaysia’s dairy industry.

Lim said it has been a privilege to lead F&N and expressed confidence that the group is well positioned for its next phase of growth. “I look forward to working closely with Gupta during the transition to ensure continuity and sustained momentum,” he added.

Gupta said he is “energised by the opportunity to build on F&N’s foundation and drive sustainable growth going forward”.

Shares in F&N rose 42 sen or 1.4%, to close at RM29.72 on Tuesday, giving the group a market capitalisation of RM10.9 billion.