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Astro Malaysia's CEO Steps Down; Shares Rally 8%

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Astro Malaysia (KLSE:ASTRO) said Group Chief Executive Officer Euan Smith has stepped down after six years in the role.

He will continue to serve in an advisory capacity until December to support the transition, according to a Monday Malaysian bourse filing.

Former Group Chief Executive Officer Henry Tan has been appointed as interim chief executive, effective June 16, while the company searches for a permanent successor.

The board said the leadership change comes as Astro's platform transition is already well advanced.

Shares jumped over 8% in Monday's afternoon trade.

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