Hotel magnate Michael Kum has been named as the non-executive Chairman of Atlantic Navigation Holdings following his takeover of the company, as per the filings with the Singapore Exchange (SGX).

Michael Kum is chairman of hotel property group M&L Hospitality and founded offshore chartering business Miclyn Express Offshore which was sold to private equity. Earlier this month, he acquired a 50.2 per cent stake in Atlantic Navigation through a placement of Atlantic Navigation shares to his investment vehicle Saeed Investment.

Meanwhile, Wong Siew Cheong, who was Atlantic Navigation's executive chairman before the latest board recomposition, has been redesignated as an executive director of the board. He will retain his role as Chief Executive Officer.

The company has also appointed Sam Chee Leong as an independent director. Simultaneously, executive director for finance Tong Choo Cherng has resigned from the board but will continue to serve as the chief financial officer for the company.

More directorial changes have also taken place with the takeover. Non-executive director Andrew Waite; his alternate, Jeffrey Ewen; and independent director Eu Lee Koon have also resigned from the board of the company.

Image credit: The Straits Times