Executive moves: Sim Leisure’s financial controller to resign; Koyo, Dairy Farm, Mandarin Oriental, Banyan Tree

Outlet of Guardian, which is owned by Dairy Farm, at Kinex mall in SingaporeOutlet of Guardian, which is owned by Dairy Farm, at Kinex mall in Singapore. Photo taken pre-Covid

Singapore companies announcing executive changes on Friday, 19 November 2021: Sim Leisure Group, Koyo International, Dairy Farm International, Mandarin Oriental International, and Banyan Tree Holdings.

Sim Leisure Group

Sim Leisure Group announced on Friday Ng Jia Wei, age 42, would resign as financial controller, effective 12 December, to pursue other career opportunities.

Ng, who was appointed to his position in June of this year, will serve a one-month notice, as set out in his contract, with the last day of employment set for 11 December, Sim Leisure said in a filing to SGX.

“Ng will continue to ensure smooth functioning of the finance team operation of the group until his last day of employment,” the filing said. “The company is in the process of finding a replacement for the position of financial controller or equivalent … in the meantime, the company intends to engage an external accounting firm to handle the group’s financial requirements.”

Koyo International

Koyo International said Friday it has re-designated its executive director, Foo Suay Wei, age 37, to be managing director and CEO, effective Friday.

“Foo Suay Wei has been covering for Mr. Foo Chek Heng during his leave of absence since 24 January 2020. Following the late Mr. Foo Chek Heng’s demise and as a part of the board’s succession planning efforts, Mr. Foo Suay Wei will be assuming Mr. Foo Chek Heng’s duties and responsibilities,” the company said in a filing to SGX.

Foo Suay Wei, who has been an executive director since 2014, is the son of Foo Chek Heng, who was a substantial shareholder of Koyo International, and his is the brother of Foo Suay Lun, who is executive director of the company and a substantial shareholder, the filing said.

Dairy Farm International

Dairy Farm International said Friday Dave Cheesewright, Weiwei Chen and Christian Nothhaft will join the board as non-executive directors, effective 30 November.

“The board continues to evolve its composition as it responds to the changing business environment in which the company operates and will benefit from a smaller board and more external expertise,” Dairy Farm said in a statement filed to SGX.

Cheesewright is a former president and CEO of Walmart International, the company said.

WeiWei Chen is the former vice president and chief financial officer for China for Starbucks and she was the chief financial officer for the China division of Yum! brands, the filing said.

Christian Nothhaft is the former CEO of Watsons Personal Care Stores for China and managing director of Fortress, and the current chair of China Group International Investment, the filing said.

Delman Lee, George Ho, YK Pang, Clive Schlee and Percy Weatherall will be retiring from the board, effective 30 November, the filing said.

Mandarin Oriental International

Mandarin Oriental International said Friday Lincoln K.K. Leong would be retiring from the board, effective 1 December.

Banyan Tree Holdings

Banyan Tree Holdings said Friday Chia Chee Ming Timothy, age 71, would cease to be an independent director and lead independent director, effective 31 December.

“Chia Chee Ming Timothy has been with the company for more than nine years since his appointment as an independent director and lead independent director of the company. Mr. Chia has decided to step down and resign to facilitate board renewal,” Banyan Tree said in a filing to SGX.

Chia, who holds 257,000 shares of the company, was appointed to his position in 2001, the filing said.

Tan Chian Khong, age 65, has been re-designated from independent director to lead independent director, effective 31 December, Banyan Tree said.

 

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