IN THE COUNCIL: Andrew Khoo takes over the leadership of his father Khoo Kay Peng as President of Laura Ashley
City & Finance Reporter for the Daily Mail
The president of Laura Ashley, ladies and interior salesman, was succeeded by his son after 19 years at the helm.
The Malaysian businessman Khoo Kay Peng, 79, stepped down with immediate effect as chairman and director. He was succeeded by his son, Andrew Khoo, 46.
The family owns 35.2 percent of the retailer through MUI Asia. Khoo senior also owns 25.8 percent of Laura Ashley through a personal shareholding.
Khoo senior also retired as executive chairman of MUI, where his son replaced him.