Change - Announcement Of Resignation Of Deputy Chief Executive Officer
27 May 2020
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | May 27, 2020 23:57 |
| Status | New |
| Announcement Sub Title | Resignation of Deputy Chief Executive Officer |
| Announcement Reference | SG200527OTHRI0TT |
| Submitted By (Co./ Ind. Name) | Vincent Siaw |
| Designation | Executive Vice President & Chief Operating Officer |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Deputy Chief Executive Officer. |
| Additional Details | |
| Name Of Person | Mr. Philippe Grasset |
| Age | 57 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 01/07/2020 |
| Detailed Reason (s) for cessation | To pursue personal and other professional interests. Mr. Grasset submitted his resignation as Deputy Chief Executive Officer of the Company. The Company has accepted his resignation and the parties agreed that the effective date of his resignation shall be on 1 July 2020. |
| Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? | No |
| Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? | No |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| Date of Appointment to current position | 01/10/2019 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of Independent Directors currently resident in Singapore (taking into account this cessation) | 2 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 2 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Deputy Chief Executive Officer |
| Role and responsibilities | Mr. Grasset's roles and responsibilities was to oversee the execution by the Company of key initiatives approved by the Board including operational strategy development, business turnaround and transformation, business development and sales, and budgeting and performance monitoring. These responsibilities shall continue to be performed by other members of the Company's management. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None. |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | None. |
| Present | None. |