TPG chairman and founder Teoh resigns

TPG Telecom’s David Teoh has resigned as chairman and a director, having developed a major force in the industry from scratch.

The telco on Friday confirmed Mr Teoh’s departure, along with his son Shane, who also resigned from the board.

In a statement, the elder Teoh outlined the growth of the internet service provider he and wife Vicky founded more than 30 years ago.

The provider last year merged with Vodafone to offer phone and internet services.

Mr Teoh said the time was right for him to step aside and pursue other interests.

Canning Fok will take over as chairman.

David Teoh remains the top shareholder and has a 13 per cent stake.

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