04/10/2013 (The Sun) -  IOI Corp Bhd group executive director Datuk Lee Yeow Chor, who is the eldest son of the plantation group's executive chairman and CEO Tan Sri Lee Shin Cheng, has taken over the helm of Unico-Desa Plantations Bhd.

This follows the acquisition of a 39.55% stake in Unico by IOI Corp's unit IOI Plantation Sdn Bhd on Wednesday for RM396.63 million.

Yeow Chor is the chairman of the Malaysian Palm Oil Council and also a council member in the Malaysian Palm Oil Association.

He also holds directorships in five companies as well as The Tan Sri Lee Shin Cheng Foundation.

The announcement on Yeow Chor's appointment as CEO of Unico comes as Unico's deputy managing director Dr Yeong Cheong Thye @ Yeong Yue Cha is redesignated as a non-executive director of the company.

Yeong was one of the parties which sold his shares to IOI Corp.

Another executive director Teoh Seng Hui, who joined Unico in 2009, was also re-designated as a non-executive director of the company.

Unico also changed its company secretary.

The stake purchase has triggered a mandatory general offer for the rest of Unico shares. IOI Corp is offering RM1.17 a share to the remaining shareholders of Unico.