Wong Ngit Liong, who is stepping down as the long-time CEO of Venture Corp, has increased his stake in the blue-chip contract manufacturer. On Nov 8, Wong acquired 200,000 shares on the open market for a total $3.75 million or $18.7 each.

Wong now holds around 20.65 million shares or 7.106% of the company, up from 7.037% previously.

Wong, who will remain as executive chairman, will be succeeded as CEO by Lee Ghai Keen, the current COO. Wong Chee Kheong, who is now the senior vice-president of Venture’s healthcare and wellness business, global supply base management and IT, will be appointed as the COO. The changes will take effect on Jan 1, 2022.

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