Executive moves: Singapore Airlines redesignates Banerjee and Hsieh as non-independent directors

Singapore Airlines plane on the ground at Singapore’s Changi Airport; taken November 2018.Singapore Airlines plane Changi Airport.

Singapore companies announcing executive changes: Singapore Airlines.

Singapore Airlines said Tuesday Gautam Banerjee, age 67, will be re-designated to non-independent non-executive director, from independent non-executive director previously, effective 1 January 2022.

Banerjee will have served the board for nine years at the start of January, Singapore Airlines said in a filing to SGX; he wouldn’t have been considered independent after 1 January.

“The board believes that the continued appointment of Mr. Banerjee (who has, over time, gained valuable insights into the company and accumulated vast institutional knowledge) as non-independent director is especially critical for continuity in the current Covid-19 situation as the company continues to navigate its way through the pandemic,” the Singapore flag-carrier said.

Banerjee is the senior managing director of Blackstone Group and chairman of Blackstone in Singapore, and was with professional services firm PricewaterhouseCoopers (PwC) Singapore for over 30 years, including as its executive chairman for Singapore, before retiring from PwC Singapore at end-2012, the filing said.

Banerjee holds 44,850 shares of Singapore Airlines, the filing said.

In addition, Singapore Airlines said Hsieh Tsun-yan, age 69, would also be re-designated to non-independent non-executive director from independent non-executive director after serving on the board for more than nine years. He was initially appointed to the board in 2012, the filing said.

“The board believes that the continued appointment of Mr. Hsieh (who has, over time, gained valuable insights into the company and accumulated vast institutional knowledge) as non-independent director is especially critical for continuity in the current Covid-19 situation as the company continues to navigate its way through the pandemic,” the Singapore flag-carrier said.

Currently, Hsieh is the chairman and lead counselor of Linhart Group, a leadership services firm he founding in 2008, and he has extensive experience in business strategy, leadership development and corporate transformation, Singapore Airlines said.

Hsieh owns 39,250 shares of the company, the filing said.

Separately, Singapore Airlines said it appointed Yeoh Oon Jin, age 60, as chairman of the board audit committee; he is currently an independent non-executive director.

Yeoh was previously the executive chairman of PwC Singapore, and was with the firm for more than 30 years, and he currently is the chairman of the Singapore Land Authority, the filing said.

He holds S$250,000 of the airline’s 3.13 percent notes due on 17 November 2026, the filing said.