In a historic leadership transition, Lim Kok Thay has stepped down as CEO of Genting Berhad after nearly two decades, signaling a new chapter for one of Asia’s largest family-run conglomerates. While he remains executive chairman, Tan Kong Han will take over as the first non-family CEO of the group, sparking speculation about Genting’s future direction.
Leadership Shake-Up: A Shift Toward Professional Management?
Lim Kok Thay (73), son of Genting founder Lim Goh Tong, has led the group since 2004, expanding its global footprint in casinos, plantations, energy, and biotechnology.
His successor, Tan Kong Han (59), has been with Genting for 18 years, serving as COO and executive director before his promotion.
Observers believe this move could boost investor confidence, as institutional investors have long been wary of family-controlled governance.
Lim’s son, Lim Keong Hui (40), will take over as CEO of Genting Plantations, reinforcing speculation that he remains the heir apparent.
Genting’s Global Expansion & Financial Challenges
Despite a record year of tourism growth, Genting Bhd and Genting Malaysia’s stocks tumbled following the leadership change.
Genting Bhd closed at RM3.29 on Feb 28, its lowest since 2021, while Genting Malaysia hit a 15-year low of RM1.90.
The drop was driven by weaker-than-expected Q4 earnings, with Genting Bhd posting a net loss of RM169.4 million and
Genting Malaysia reporting a RM457.9 million loss.
Analysts attribute the downturn to lower margins at Resorts World Las Vegas and heavy investments in expansion projects, including a US$5 billion New York casino and a potential US$3 billion Thai casino bid.
What’s Next for Genting?
Analysts expect Genting to rebound as foreign visitor numbers recover, particularly from China.
While the Lim family retains control, Tan’s appointment suggests a shift toward professional management, potentially avoiding the succession conflicts seen at other family-run conglomerates.
Will Genting’s leadership transition drive growth—or does the family feud risk instability?
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