KUALA LUMPUR, April 23 — Public Bank Bhd has redesignated its independent non-executive chairman (INEC) Lai Wan as non-INEC.

The bank in a filing with Bursa Malaysia today said the move, effective April 26, 2021, was due to Lai reaching the maximum nine-year tenure as an independent non-executive director.

"He has 46 years of experience in the banking and finance-related industries and had served Bank Negara Malaysia for 20 years.

"The last position held before his resignation in 1985 was as deputy manager, bank examination and internal audit department,” the bank said.

Lai Wan was appointed as an independent non-executive director of Public Bank on April 26, 2012, and as an independent non-executive deputy chairman on September 26, 2017.

He was redesignated as INEC on January 1, 2019. — Bernama