Holista Colltech Limited (ASX:HCT) Announces New Interim CEO
Appointment of Interim CEO
Holista Colltech Limited (ASX: HCT) has appointed Mr. Leong Man Loong as Executive Director and Interim CEO, effective immediately. This decision follows a recent penalty payment to ASIC and a strategic assessment meeting held by the Board in Kuala Lumpur. Mr. Leong, the Company’s second-largest shareholder, expressed a willingness to support Holista during its current challenges.
Leadership Background
Mr. Leong brings significant expertise to this role, holding a Bachelor of Science degree in Mechanical Engineering and extensive experience in corporate management, financial oversight, and business development. His background includes over 30 years in nanotechnology and environmental technology, along with leadership at SHEPROS Group of Companies. The Board believes his experience positions Holista for a sustainable and profitable future.
Commitment to Company Goals
In a show of commitment, Mr. Leong will serve for an initial six-month period with a nominal remuneration of $1. His progress will be reviewed at the end of this term, with ongoing performance evaluations to guide Holista’s strategic direction. The Board is optimistic about leveraging Mr. Leong’s extensive network in key markets.
Executive Insights
Mr. David Deloub, Chairman of the Board, emphasised Mr. Leong’s dedication and vested interest in Holista’s success, highlighting his valuable connections within the Malaysian, Singaporean, and Chinese business communities. The Board will continue to update on leadership progress and initiatives in the coming months.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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