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[KUALA LUMPUR] Lim Kok Thay will step down as chief executive officer of Malaysia’s Genting after nearly two decades at the helm, the company said on Thursday (Feb 27).

Tan Kong Han, currently president, chief operating officer and executive director, will take over as CEO, effective Mar 1, 2025. He will continue to serve as president and executive director – a position he has held since 2020.

As part of the transition, Tan has stepped down as CEO of Genting Plantations to focus on his expanded responsibilities at Genting, leading and overseeing the day-to-day operations of the group. He remains as executive director of Genting Plantations.

Lim, 73 – the son of the Genting Group founder Lim Goh Tong – will remain as executive chairman of the group’s board of directors.

Under his leadership of nearly two decades, Genting has expanded from its Malaysian roots into global operations across leisure and hospitality, oil palm plantations, power generation, oil and gas and property development. The group has also invested in life sciences and biotechnology.