Creative Technology announced that CEO Song Shaohui has retired and the company's chairman Dr. Chen Yuzhen serves as interim CEO.

After the market closed on Friday (February 28), Innovative Technology issued an announcement announcing that Song Shaohui, 70, will retire from now on and will serve as an advisor during the transition period of his leadership position. Dr. Chen Yuzhen, 73, who has served as the company's chairman since October last year, will take over as interim CEO.

Song Shaohui has more than 30 years of experience in his career. He said in his statement: “It has been an unforgettable journey for me to join innovative technology since the early stages, especially with the opportunity to work with outstanding talents from different countries. Many of them are passionate about our technology and products.”

After the company's founder Chen Wangfu passed away two years ago, Song Shaohui took on a transitional leadership position. He expressed his gratitude for this and looked forward to the new management team's transformation and the promotion of the company's development with a new strategy.

Dr. Chen Yuzhen, interim CEO, said: “Song Shaohui has always been a pillar of the innovative technology leadership and innovation process. From early onboarding to becoming CEO at critical moments, his dedication has shaped the company's development. On behalf of the board of directors and the company team, I deeply appreciate his valuable contribution. We are also pleased that he continues to provide guidance during the transition period.”

Further reading

Innovation Technology's losses in the first half of the fiscal year have expanded

Innovation Technology's losses in the first half of the fiscal year have expanded

Innovation Technology Board Update Dr. Chen Yuzhen as Chairman

Innovation Technology Board Update Dr. Chen Yuzhen as Chairman

Transitional leadership will strive to maintain the company's market leadership in Voice Technology Innovation and focus on improving profitability, while achieving sustainable growth by improving product lines and simplifying operations.

The Innovation Technology Board will also ensure the smooth handover of leadership positions, while ensuring the appointment of a new CEO to lead the company's continued growth.

As of Friday's closing, the company fell 0.96% or 0.01 points throughout the day to close at S$1.03.