Laura Ashley chairman retires after almost 20 years
British fashion and homeware company Laura Ashley has announced that its chairman Tan Sri Dr Khoo Kay Peng is retiring and has resigned with immediate effect.
The 79-year old Malaysian-Chinese businessman is a a major shareholder in Laura Ashley through his Malayan United Industries Berhad (MUI) business.
He has been the chairman of Laura Ashley since 1999.
Andrew Khoo Boo Yeow, currently executive chairman of MUI, has been appointed to succeed him as the new non-executive chairman of the fashion and lifestyle brand with immediate effect.
Andrew Khoo said: "Tan Sri Dr Khoo leaves an important legacy and retires having left Laura Ashley a stronger and much-loved global brand as a result of his vision. I look up to what he has achieved, draw inspiration from his remarkable accomplishments and continue to follow the values he espouses."
Ng Kwan Cheong, chief executive, added: "We are pleased to have Andrew Khoo as our new non-executive chairman. He has been on the Company Board for a number of years and has a substantial knowledge of the business and a deep affection for the Laura Ashley brand."
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