Asia/Pacific News
Brightoil Founder Sit Kwong Lam to Resume Position as CEO
Brightoil Petroleum (Holdings) Ltd. (Brightoil) founder Sit Kwong Lam will once again take over as CEO a little over a year after stepping down from the role, Brightoil has announced.
Yung Pak Keung Bruce, who was appointed as CEO on July 16, 2014, tendered his resignation as an executive director and CEO with effect from August 21, 2015 "in order to pursue his other personal interests."
"Dr. Yung has confirmed that he has no disagreement with the Board and there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company," Brightoil said.
"The Board would like to express its sincere gratitude to Dr. Yung for his valuable contributions to the Group throughout his term of office."
Sit stepped down from the role last year but remained as chairman and an executive director of Brightoil.
In Friday's announcement the company also said Tang Bo has been appointed as an authorised representative of the company.
In May Brightoil said its CEO of Singapore operations Wang Wei had been appointed as an executive director of the Group.
