His eldest son, Robin Tan Yeong Ching, will accordingly relinquish his chairmanship but remain as CEO of the company, Berjaya Corporation Bhd said in a statement today.

Vincent retired from the board of directors of Berjaya on Feb 23, 2012, and embarked on various charitable and social programmes and initiatives while at the same time continuing to explore new business opportunities for the group.

“I feel that after being away for five years, it’s time I return to the board to actively participate in the deliberation and decision-making in order to show my commitment and accountability to our stakeholders,” he said.

Meanwhile, Berjaya Board members agreed that as the major shareholder of the company, it was appropriate that Vincent take his rightful place as executive chairman, the statement added.