No slowing down for William Cheng
Doreen Leong | 22 Aug 2014 01:00
Although Tan Sri William Cheng Heng Jem is 71, he shows no sign of slowing down. In fact, the tycoon seems busier than ever. After his nephew Datuk Alfred Cheng stepped down as managing director of Parkson Retail Asia Ltd (PRA) in May last year, the elder Cheng assumed the position of PRA executive chairman, which the company says is in line with its long-term leadership-renewal plans. Cheng seems to be tightening his grip on Parkson by taking on more responsibilities following the recent resignations of top executives including Parkson Group chief operating officer. The question is how long can Cheng continue heading the diversified Lion Group which includes Parkson.
Alfred resigned as non-executive director of Singapore-listed PRA on May 31 this year, a year after assuming the position when he relinquished the MD’s role, and was a senior adviser to Cheng. More recently, PRA COO Raymond Teo Kheng San, 57, retired from the company after having run Parkson Malaysia operations for about 26 years.
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