IGB announce that Dato' Seri Robert Tan Chung Meng ("DSRT"), 70, will step down as GCEO of IGB effective 1 January 2023. DSRT took the helm in March 2018, and has been the Group Managing Director of IGB Corporation Berhad ("IGBC") since 1995 before IGBC was being taken private by IGB in 2018. DSRT will remain with IGB in the role of Non-Independent Non-Executive Director to facilitate the change in leadership during the transition.

The Board of IGB would like to place on record their highest gratitude and appreciation for his wisdom, leadership and contribution in steering the IGB Group over the past years. He has been instrumental in shaping the Group's strategic response to secure stability and business continuity in the face of daunting and unprecedented challenges across many aspects of the Group's operations. Tan Boon Lee ("TBL"), current Deputy GCEO since August 2018, will succeed DSRT as GCEO, effective 1 January 2023.

TBL was Executive Director of IGBC prior to it being privatised on 16 March 2018. He was also CEO of Tan & Tan Developments Berhad (the property-arm of IGBC) from June 2003 until January 2019. In addition to TBL's appointment as GCEO, IGB also wishes to announce that Tan Mei Sian ("TMS"), 39, current Group Head of Strategy & Risk, will assume the role of Deputy GCEO, and remain as alternate Director to Tan Lei Cheng, the Non-Independent Non-Executive Chairman of IGB.

The above transition, which will take effect on 1 January 2023, is part of the leadership succession plan approved by the Board.