KUALA LUMPUR (Feb 14): Tan Sri Dr Francis Yeoh Sock Ping (pictured) has been promoted to executive chairman of YTL Hospitality Real Estate Investment Trust (REIT), from being chief executive officer (CEO) previously.
Meanwhile, his brother Datuk Yeoh Seok Kah will take over as CEO, YTL Hospitality said in a stock exchange filing today.
The changes to group’s board and management are effective today, the group added.
Francis Yeoh, 64, is currently also the executive chairman of YTL Corp Bhd, as well as the managing director of YTL Power International Bhd and YTL Land & Development Bhd. The position of executive chairman in the hospitality unit was unoccupied prior to his appointment.
Shares of YTL Hospitality closed up 1 sen or 0.78% at a record high of RM1.29 today, giving the group a RM2.2 billion market capitalisation.— theedgemarkets.com