Major Asian retail group Dairy Farm International Holdings announced on Thursday that Michael Kok will step down from his role as group CEO at the end of December.
Kok will stay on with the company as a non-executive director, and Dairy Farm has confirmed earlier reports he will be replaced as chief executive by Graham Allan, who will step into the role from 1 January.
Allan comes to the role after eight years with Yum Brand, most recently serving as CEO of global restaurant chain Yum Restaurants International.
Board member Ronald Floto will also retire from the board at the end of December.
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