Wah Seong Corporation Berhad announced that Mr. Chan Cheu Leong aged 72, will retire from the position of Managing Director/Group Chief Executive Officer of WSC with effect from 1 July 2023. CCL was appointed to the Board of WSC on 22 May 2002 and was instrumental in the consolidation and listing of WSC Group in year 2002. He will remain with the WSC Group and will be redesignated as a Non-Independent Non-Executive Director with effect from 1 July 2023.

The Board of WSC would like to express their utmost gratitude and appreciation for his wisdom, leadership and contributions towards the WSC Group during his tenor as Managing Director/Group Chief Executive Officer. Mr. Gian Carlo Maccagno ("GM"), aged 59, the current Deputy Managing Director of WSC will succeed the role of Managing Director/Group Chief Executive Officer of WSC with effect from 1 July 2023. GM is also the Chief Executive Officer of the Wasco Energy Group of Companies, the Energy Solutions Services Division of WSC (“Wasco Group”), and he is responsible for the overall business and management operations of the Wasco Group.

The above transition will take effect on 1 July 2023 upon the expiry of CCL's contract of employment as Managing Director/Group Chief Executive Officer on 30 June 2023.