The $4.2 billion-asset company announced Thian’s departure on
Monday. He had been on paid leave since Feb. 22, when RBB first
disclosed the investigation.
David Morris, RBB’s chief financial officer, has been serving as
interim president and CEO.
The investigation, handled by an outside law firm, identified
violations of company policies and procedures, including those tied to
personnel decisions and the “resulting adverse effects on officer and employee
morale.”
The board and management indicated that the violations did not
have an adverse financial impact on the company.
“Our highly skilled workforce and experienced management team are
confident that RBB
… will continue to deliver on their reputation for meeting and exceeding our
customers' high standards,” James Kao, the company’s chairman, said in
the release.
“This team has delivered growth while continuing to invest in
people, product development and production capabilities, and the company is
well positioned to further deliver value to its stakeholders,” Kao added.
No comments:
Post a Comment