Wilmar International’s chairman, Kuok Khoon Hong, will cease to be a member of the group’s risk management committee and board sustainability committee. The cessation will be effective from Dec 1 onwards.
Under the recommendation of Wilmar’s nominating committee, the board has approved the appointments of former minister George Yeo and Soh Gim Teik as members of the risk management committee and board sustainability committee, respectively. Yeo and Soh are non-executive and independent directors of the group.
The changes were made such that board-level risk committees will comprise entirely of independent directors to “provide more robust and objective oversight of risk-related matters”, says Wilmar in its Dec 1 announcement.
The composition of Wilmar’s other board committees remains unchanged.
Shares in Wilmar closed 2 cents higher or 0.62% up at $3.24 on Nov 28.
