7 September 2024
On September 6, the tycoon U Thein Wai (or) Serge Pun, who is reportedly being detained, officially announced his retirement as the chairman of FMI Company Limited and its subsidiary companies.
The statement stated that on September 5, the composition of the company’s board of directors was changed, and U Thean Wai, who served as the company’s executive chairman for more than twenty years, retired.
Similarly, MR. JAIME ALFONSO ANTONIO EDER ZOBEL DE AYALA and MR. The statement said ALBERTO MACAPINLAC DE LARRAZABAL also retired as an alternate director.
In addition, U Tun Tun will be reappointed as the company’s executive director and chief operating officer on September 5. It is reported that U Tun Tun, Dr. Aung Tun Thet, U Than Aung, U Kyi Aye, and U Lin Myain participated in the new board of directors of FMI Company.
After becoming the chief executive officer from the chief operating officer, U Tun Tun will be primarily responsible for the operations of the Board of Directors. He will continue to manage daily operations and make group management decisions with the managers of each company’s business sector.
Bloomberg reported that U Thein Wai resigned from the executive chairman position of Roma Strategic Holdings Ltd., which is listed on the Singapore Stock Exchange, last July. However, the SAC’s information team announced in early July that it would take action against seven banks, including U Thein Wai’s Roma Bank, for lending more than the central bank’s limit.
#Tycoon #FMI #mtnewsagency #NewsUpdate
