Wasco Greenergy (KLSE:GENERGY) said its chief executive officer, Lee Yee Chong, opted for early retirement from the role, effective Dec. 31, according to a Monday filing with Bursa Malaysia.

Shares slid over 2% in Tuesday's late morning trade.

Lee joined the group in 1995 and has held several key leadership positions within Wasco over the years.

The company appointed Wong Yin Kee as group managing director, effective Aug. 17, to facilitate the transition of authority and responsibilities.