"In light of these circumstances, Mr Serge Pun, along with the board of directors of the company have determined that it is in the best interest of the company, its shareholders, its employees, and its customers to accelerate these succession plans. This decision enables Mr Serge Pun to dedicate his attention to resolving these matters and preserve the stability of the group," Yoma adds.
On the evening of July 24, Yoma Strategic Holdings (SGX:Z59
) announced that Serge Pun is stepping down as chairman of the company. His son, Melvyn Pun, already the CEO, will be take on the additional role as chairman. In addition, Cyrus Pun, who was an alternate director to Serge Pun between January 2022 and July 2024, will rejoin the board as a director
"Recent developments in Myanmar have created a level of uncertainty with respect to Mr Serge Pun and his engagement with the Myanmar authorities concerning banking activities in the country," states Yoma's press release.
