MSWG’s head honcho Devanesan Evanson steps down after six years of minority shareholder uplifting

THE Minority Shareholders Watch Group (MSWG) has announced the retirement of Devanesan Evanson as its CEO and as a member of its board of directors with effect from Dec 19 this year.

Since Devanesan was appointed CEO on 19 December 2017, he has been pivotal in fostering greater minority shareholders activism and corporate governance (CG) in Malaysia.

Under his stewardship, MSWG strengthened its presence as a collective voice to minority shareholders and significantly expanded its monitoring portfolio from 250 public listed companies (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,” MSWG chairman Datuk Mohd Nasir Ali pointed out in a media statement.

The MSWG board further revealed that is a new CEO has been identified and approved.

“The board is scheduled to make the official announcement on the appointment of the successor by mid-January 2024,” it elaborated.

“The candidate brings a wealth of experience and expertise, aligning with MSWG’s commitment to upholding minority shareholders’ interests and advancing corporate governance and sustainability standards in Malaysia.” – Dec 29, 2023

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