- 8VI Holdings (8VI) appoints Low Ming Li as Chief Executive Officer, effective immediately
- Ms Low previously held the role of Chief Operating Officer of 8I Holdings (8IH), the holding company of 8VI, where she spearheaded several transformation initiatives
- She will take over from Ken Chee, who will be involved in operations and activities in VI College while remaining on the board as Executive Director
- Ms Low and other management executives have agreed to a 30 per cent cut to their total remuneration as 8VI works to overcome business challenges
- 8VI Holdings last traded at 71 cents at 11:35 am AEDT
8VI Holdings (8VI) has appointed Low Ming Li as Chief Executive Officer, effective immediately.
The incoming executive is taking over the role from Ken Chee, who will be involved in operations and activities in VI College while remaining on the board as Executive Director to provide entrepreneurial leadership and strategic objectives.
The company said her strong leadership performance over the past seven years as Chief Operating Officer of 8I Holdings, the holding company of 8VI, has confirmed her as the “ideal candidate” to lead the company’s shift in its future strategy and business model.
In her previous COO role, she spearheaded several strategic and business transformation initiatives.
“I am passionate about the company and its core mission of empowering everyone towards sustainable wealth, in all its forms,” Ms Low said.
“While this period marks a particularly difficult time in the Group’s evolution, I am looking forward to work with the Board and management team as we move towards the future.”
Further, Ms Low told investors the next few months will be focused on bringing back operational efficiency.
Ms Low, together with Mr Chee and three other top management staff have agreed to a 30 per cent reduction in their total remuneration from January 2023, in reflection of their aligned interests with shareholders as the group works to overcome business challenges.
The incoming CEO’s contract will include SGD 17,220 (A$18,887) per month plus short term incentives based on milestones.
Shares in 8VI was up 0.71 per cent, trading at 71 cents at 10:05 am AEDT.