Creative Technology has appointed Freddy Sim, the younger brother of late founder Sim Wong Hoo, as CEO effective May 16.
Interim CEO Dr Tan Jok Tin, who is also the executive director of the company, will step down as interim CEO with the appointment of Sim. Tan was appointed interim CEO in February after Song Siow Hui retired.
The younger Sim has over 40 years of experience as an entrepreneur in the world of consumer electronics and technology.
Sim says that he will be drawing a nominal monthly salary of $1, like his late brother as he works to “reinvigorate the company”.
“Creative is renowned as the flagbearer for innovation in the technology industry. The new senior management team have re-strategized and refocused on our core DNA of innovation, and revitalized the entrepreneurial spirit of daring to venture into the leading edge. We look forward to revealing more of our next strategic steps in the coming months. We are rebuilding a new Creative for the next decade,” says Sim.
The younger Sim has 368,475 direct shares in Creative Technology, and 65,000 deemed interest. As one of the persons entitled in the distribution of the estate of late Sim Wong Hoo, Freddy Sim has an interest of 22.4 million shares in the company.
