KUALA LUMPUR, 12 Dec 2022 — Public Bank Bhd’s founder and chairman emeritus, director and adviser Tan Sri Teh Hong Piow has passed away peacefully at 10.20 am today at the age of 92.
Teh founded Public Bank in 1965 at the age of 35 and was appointed as the Chief Executive Officer and Managing Director of Public Bank since its commencement of business operations on 6 August 1966, Public Bank said in a statement today.
He relinquished his CEO position and was re-designated as Non-Executive Chairman of Public Bank on 1 July 2002. Teh retired as the Non-Executive Chairman of Public Bank on 31 December 2018, and was conferred the title of Chairman Emeritus and Adviser of Public Bank on 1 January 2019, and remained as a Non-Executive Director on the Board of Public Bank.
Throughout his life, Teh dedicated himself to building Public Bank as a strong banking group in Malaysia in support of the banking and finance industry.
Teh had built a solid foundation and cultivated a strong corporate culture with a resilient business model for the Public Bank Group to continue on a solid growth path while navigating through challenges throughout the years.
Upon relinquishing his CEO position in 2002, Teh with his visionary foresight had put in place a clear management succession plan and groomed a strong management team which had continued to drive and manage the growth of the Public Bank Group.
With the strong foundation and the excellent corporate culture built by Teh, the management team had continued to lead the Public Bank Group to greater heights since 2002.
“Tan Sri Teh’s passing is a great loss to the Public Bank Group. Public Bank has lost an amazing and visionary leader. Tan Sri Teh left behind a great organisation that only he could have built, and his legacy will be the perpetual foundation of the Public Bank Group,” Public Bank said.
Meanwhile, Prime Minister Datuk Seri Anwar Ibrahim sent his condolences to the family of Teh.
“His departure certainly leaves a big hole for the Public Bank family, the banking sector and the country,” Anwar said.
— Akses Malaysia
