Star Media Group's Wong Chun Wai to retire as MD and CEO

Star Media Group's group managing director and CEO, Datuk Seri Wong Chun Wai (pictured), will retire from his role on 1 January 2019. He will also relinquish his directorship in all subsidiaries of Star Media Group with effect from the same date, the Bursa filing stated.However, Wong will continue to serve as group advisor on editorial and corporate relation matters. Star Media Group will make the necessary announcement when a suitable successor is appointed.Wong has been with the group for 34 years, helming the role of group managing director and CEO since 20 November 2013. He was previously appointed as group chief editor of The Star on 1 January 2008."He has been a valuable member of the board and management team. The board of directors and management of Star Media Group wish to express its deepest appreciation to Datuk Seri Wong for his invaluable contribution to the company and group," the filing read.Meanwhile, the group garnered RM91,123,000 during the third quarter of its financial year ended 30 September 2018 (Q3 2018), a drop from RM119,111,000 during the same period last year.Revenue for its print and digital segment dropped from RM308,654,000 last year to RM258,458,000 in Q3 2018. It’s radio segment also saw a dip in revenue from RM27,077,000 last year to RM22,062,000 this year. On the other hand, its event and exhibition segment jumped to RM12,135,000 this year from RM6,888,000.Read also: Star Media Group doubles down on data and analytics with Cxense tie-up Star Media Group’s print and digital revenue slides as ad spend momentum drops Star Media Group promotes chief digital officer to COO Star Media Group to centralise print activities, cuts down on ops in Penang Star Media Group to boost digital plans amidst transformation exercise