Fu Yu terminates Group CEO for misconduct

An interim team was formed to manage operations.

Fu Yu Corporation Ltd has terminated Group Chief Executive Officer David Seow for gross misconduct, effective 31 October 2025.

He also ceased to be a director of the company and its subsidiaries with immediate effect, according to a press release.

The board said independent directors began an internal review after shareholders questioned executive pay at the June 2025 annual general meeting. External legal and audit advisers assisted in the review, which identified misconduct leading to Seow’s dismissal.

Ongoing investigations prevent further disclosure, the board said, adding that there are no other matters related to Seow’s departure requiring shareholder attention.

An Operating Committee led by Group General Manager Gevin Bai will oversee daily operations until a new Group CEO is appointed. The committee includes general managers from Singapore, Malaysia, and China.

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