KUALA LUMPUR (Aug 14): Atlan Holdings Bhd (KL:ATLAN) announced that its group CEO Datuk Lee Kok Khee is set to step down from the role on Sept 17.

Following his resignation as group CEO, Lee, 58, will be appointed group adviser of the autoparts maker and duty-free goods trader, according to a bourse filing on Friday.

A successor for the group CEO position was not announced in the filing. 

Lee’s resignation comes just a little over a year after he was appointed to the role on Aug 7 last year. Before his time at Atlan, he was with Kenanga Investment Bank for 22
years, according to Atlan. His last held position at the investment bank was executive director and head of the group equity business.

Atlan, meanwhile, has been facing a challenging business environment combined with lower revenue from its duty free segment, following the closure of its Johor Bahru and Langkawi outlets in February this year.

It began its ongoing financial year ending Feb 28, 2027 (FY2027) with a drop in earnings. Net profit for the three months ended May 31, 2026 (1QFY2026) fell to RM112,000 from RM3.06 million a year earlier. Revenue dropped 26.5% to RM73.05 million from RM99.41 million a year earlier, on lower orders received by its automotive segment, while the
duty free segment saw lower sales due to the outlet closures.

Atlan expects the business environment to remain challenging for the rest of FY2027, as high global inflation raises costs and weakens consumer spending amid ongoing cost-of-living pressures.

Shares of Atlan closed unchanged at RM2.59, valuing the company at RM656.95 million.