KUALA LUMPUR: The Minority Shareholders Watch Group (MSWG) has announced the retirement of Devanesan Evanson as its CEO and member of the board of directors effective Dec 19, 2023.

       In a statement, the group said a new CEO had been identified and approved, with an official announcement on the appointment to be made by mid-Janaury 2024.

       Devanesan was appointed CEO on Dec 19, 2017, and was pivotal in fostering greater minority shareholders activism and corporate governance (CG) in Malaysia, said the group.

       Under his stewardship, MSWG strengthened its presence as a collective voice to minority shareholders and significantly expanded its monitoring portfolio from 250 PLCs to 450 PLCs, representing about one for every two PLCs listed on Bursa Malaysia.

       “On behalf of MSWG and the Board, I would like to record our sincere appreciation to Devanesan for his immense contribution to the Organisation and wish him the best in his retirement”, said Datuk Mohd Nasir Ali, chairman of MSWG.