Tjio Kay Loen filed his retirement in view that his retirement will also be correspond with the recent changes in the Company’s management.
Mr Tjio resigned on his own accord as an Independent Director of the Company due to his personal retirement plans.
Mr Tjio is of the view that his retirement will also be in line with the recent changes in the Company’s management, such as the appointment of a new CEO and the re-constitution of the Board Committees.
He was an Independent Non-Executive Director, Chairman of the Nominating Committee and a Member of the Audit Committee, according to a Manhattan Resources report.
As Chairman of the Nominating Committee, Mr Tjio (in addition to his usual duties as Independent Director) was responsible for:
(a) Reviewing the Board’s composition and effectiveness and making recommendations and nomination of directors for re-election.
(b) Reviewing the independence of each director on an annual basis.
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