He will take over the position from interim Honestbee CEO Brian Koo, who was appointed in May

In the latest update of the crisis that has been happening to the startup since earlier this year, grocery and food delivery startup Honestbee announced the appointment of Ong Lay Ann as its new CEO, Deal Street Asia reported.

Starting from July 15, Ong Lay Ann will take over the position from interim CEO Brian Koo, who was appointed in May.

Koo himself will remain on the company’s board. He is also a general partner and founder at one of Honestbee’s investor Formation 8.

The company also announced the departure of its CTO and co-founder Jonathan Low since July 11.

This year, Honestbee has been facing financial and management issues that led to the suspension of its services in the Philippines, Indonesia, and Malaysia.

Also Read: Today’s top tech news, April 22: honestbee suspends Philippines operations indefinitely

In Singapore itself, the company had to discontinue its food delivery service.

New CEO Ong has close to two decades of leadership experience in IT, commodities, real estate and infrastructure.

His past achievements included turning around Australian precast concrete manufacturer Perth Precast by acquiring its assets via Precast Australia, eventually listing the latter on the Australian Stock Exchange (ASX) via a reverse takeover into Weststar Industrial Limited.

Ong currently holds directorship positions at ASX-listed Weststar and ISDN Investments, the investment and trading arm of SGX-listed ISDN Holdings Limited.

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Image Credit: Honestbee

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