He will continue to serve as senior executive vice president.
Mr. Chia, 57, was responsible for overseeing the overall management of the group.
As a key executive in the Thoresen Group, he has been assigned to focus on another role within the group where he will pioneer various new business opportunities.
Mr. Chia holds a Master’s Degree (EMBA) from Sasin Graduate School of Business Chulalongkorn University in a joint program with Kellogg Graduate School of Management of Northwestern University of USA.
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