Executive Moves: ThaiBev and SPH REIT tap new directors; Sasseur REIT COO resigns

Cans of Chang beer at a Singapore supermarket; taken September 2018. The Chang brand is owned, brewed and distributed by Thai Beverage.Cans of Chang beer at a Singapore supermarket; taken September 2018. The Chang brand is owned, brewed and distributed by Thai Beverage.

Singapore companies announcing executive changes: Thai Beverage, SPH REIT, Sasseur REIT and Mercurius Capital Investment.

Thai Beverage

Thai Beverage said Friday Prasit Kovilaikool, age 78, would cease to be independent director and audit committee chairman, effective 26 November, to enable to company to comply with good corporate governance principles on director independence and board renewal. Prasit had been appointed to his position in 2012, the company said in a filing to SGX.

Clinical Prof. Emeritus Piyasakol Sakolsatayadorn, M.D., age 73, has been appointed an independent non-executive director, with immediate effect, Thai Beverage said.

In addition, Potjanee Thanavaranit has been appointed as the lead independent director, and she has also been tapped as the chairman of the sustainability and risk management committee, ThaiBev said.

SPH REIT

SPH REIT has appointed Raymond John Ferguson, age 58, and Bernard Phang Sin Min, age 64, as non-executive independent directors who will both be members of the audit & risk committee and the nominating and remuneration committee, effective 1 December, the REIT said in a filing to SGX Friday.

Ferguson, a Singapore citizen, was previously CEO at Standard Chartered Bank Singapore and is currently the non-executive chairman at insurer Aviva Singlife Holdings, the filing said.

Phang has a background in portfolio strategy and risk, investment and asset management, as well as real estate and private equity, and was previously managing director at Singapore’s sovereign wealth fund GIC, the filing said.

Sasseur REIT

Sasseur REIT‘s manager said Friday Chew Hian Chin (Ken), age 46, has resigned as chief operating officer, effective 14 December, to pursue his personal interests.

“With the departure of Mr. Chew, the investment and asset management functions will report directly to the chief executive officer. The manager has no intention to replace the COO role in the foreseeable future,” Sasseur Asset Management said in a filing to SGX.

Earlier this week, the REIT’s manager tapped Xie Jianfeng, age 42, as chief financial officer, effective 1 December.

Mercurius Capital Investment

Mercurius Capital Investment said Friday Chieng You Ping, age 64, would resign as independent non-executive director due to health reasons, effective 1 December.

The company is an investment holding company focused on development and investment in hotel resort properties in Thailand; it currently has the Sheraton Phuket Grand Bay Resort under development.

 

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