In a statement today, Public Bank Bhd said Teh founded the bank in 1965 at the age of 35. He was appointed chief executive officer (CEO) and managing director since its commencement of business operations on August 6, 1966.
Teh relinquished his CEO position and was re-designated as non-executive chairman on July 1, 2002. He retired as non-executive chairman on December 31, 2018, it said.
“He was conferred the title of chairman emeritus and adviser of Public Bank on January 1, 2019, and remained as a non-executive director on the board of Public Bank,” it added.
He dedicated his life to building the bank as a strong banking group in Malaysia in support of the banking and finance industry, the statement said.
“Teh had built a solid foundation and cultivated a strong corporate culture with a resilient business model for the Public Bank Group to continue on a solid growth path while navigating challenges throughout the years.
“On relinquishing his CEO position in 2002, Teh with his visionary foresight had put in place a clear management succession plan and groomed a strong management team which had continued to drive and manage the growth of the Public Bank Group,” it said.
Meanwhile, in a filing with Bursa Malaysia today, LPI Capital Bhd (LPI) said Teh, who was appointed as its chairman on September 27, 1971, had distinctive leadership and vision which enabled LPI Group to gain recognition as a premier insurance group in the region.
“His brilliant guidance and encouragement had driven the success of LPI Group.
“Teh retired from the board of the company’s wholly-owned subsidiary, Lonpac on January 8, 2019, and remained as the chairman of the holding company LPI,” it said.
— Bernama
