KUALA LUMPUR (Sept 1): PPB Group Bhd (KL:PPB) said Datuk Kuok Meng Xiong has formally taken the position of managing director effective Tuesday.
Jeremy Goon, the chief executive of PPB’s flour milling subsidiary FFM Bhd, has also assumed the role of executive director and will work closely with Kuok, the consumer conglomerate said in a statement. Kuok is succeeding Lim Soon Huat who retires after over a decade helming PPB.
“PPB Group has strong foundations built over many decades,” Kuok said. “My commitment is to build on these strengths, work closely with our people and continue creating sustainable long-term value for our stakeholders.”
The leadership transition was announced on June 3. Kuok is the grandson of Malaysia’s richest tycoon and PPB founder Robert Kuok.
MX, as the younger Kuok is known among close associates, is the managing director of Kuok Brothers Sdn Bhd, the patriarch’s investment vehicle. He has held senior roles within Shangri-La Group with a portfolio of hotels and real estate spanning East Asia, South Asia, and Central Asia.
He oversaw hotel operations, project development, and new business expansion. MX also founded and led Singapore-based venture capital firm K3 Ventures.
PPB thanked Lim for his leadership and contributions, noting that he will continue to support PPB as an adviser to the board.