Announcement Of Appointment Of Executive Chairman
13 February 2009
| Appointment Details | ||
| Date of Appointment | 12/02/2009 | |
| Name | M.L. Chandchutha Chandratat | |
| Age | 42 | |
| Country of principal residence | Thailand | |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | The majority of the Board of Directors, based on the recommendation of the Nomination Committee, is of the view that the current areas of responsibility of the Non-Executive Chairman M.L. Chandchutha Chandratat is equivalent to the roles typical of an Executive Chairman and should therefore be formalized by appointing him as Executive Chairman. As this resolution concerned himself, M.L. Chandchutha Chandratat was not present during the deliberation and voting of this matter at both meetings. | |
| Whether appointment is executive, and if so, area of responsibility | This is an executive appointment. The area of responsibility shall be to lead the Board to ensure the effectiveness of all aspects of the role and set the agenda, ensure that the Directors receive accurate, timely and clear information, ensure effective communication with shareholders, encourage constructive relations between the Board and Management, facilitate the effective contribution of all Directors, encourage constructive relations between executive directors and non-executive directors, promote high standards of corporate governance, have general oversight of the strategic direction and growth, succession, risk profile and management performance of the Company, and other matters as may be directed by the Board from time to time. | |
| Job Title | Executive Chairman | |
| Working experience and occupation(s) during the past 10 years | 2005-Present Managing Director Thoresen Thai Agencies Public Company Limited 2002-2005 Executive Director Special Situations Group Morgan Stanley Dean Witter Asia (Singapore) Pte. Ltd. 2000-2002 Vice President Asia Credit Trading Group J.P. Morgan Securities Asia Ltd. |
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| Shareholding in the listed issuer and its subsidiaries | M.L. Chandchutha Chandratat directly owns 260,000 ordinary shares in the Company. He has no indirect shareholdings in the Company. | |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None. | |
| Conflict of interest | None. | |
| Other Directorship | ||
| Past (for the last five years) | None. | |
| Present | Thoresen Thai Agencies Public Company Limited (listed on the Stock Exchange of Thailand) and 66 of its subsidiaries and affiliates (unlisted) as follows: Thoresen & Company (Bangkok) Limited Hermes Shipping Co., Ltd. Herakles Shipping Co., Ltd. Heron Shipping Co., Ltd. Hermelin Shipping Co., Ltd. Thor Star Shipping Co., Ltd. Thor Skipper Shipping Co., Ltd. Thor Sailor Shipping Co., Ltd. Thor Sun Shipping Co., Ltd. Thor Spirit Shipping Co., Ltd. Thor Sky Shipping Co., Ltd. Thor Sea Shipping Co., Ltd. Thor Master Shipping Co., Ltd. Thor Mariner Shipping Co., Ltd. Thor Mercury Shipping Co., Ltd. Thor Merchant Shipping Co., Ltd. Thor Captain Shipping Co., Ltd. Thor Pilot Shipping Co., Ltd. Thor Jasmine Shipping Co., Ltd. Thor Champion Shipping Co., Ltd. Thor Orchid Shipping Co., Ltd. Thor Navigator Shipping Co., Ltd. Thor Commander Shipping Co., Ltd. Thor Transporter Shipping Co., Ltd. Thor Lotus Shipping Co., Ltd. Thor Trader Shipping Co., Ltd. Thor Traveller Shipping Co., Ltd. Thor Venture Shipping Co., Ltd. Thor Nautica Shipping Co., Ltd. Thor Confidence Shipping Co., Ltd. Thor Guardian Shipping Co., Ltd. Thor Triumph Shipping Co., Ltd. Thor Nexus Shipping Co., Ltd. Thor Neptune Shipping Co., Ltd. Thor Tribute Shipping Co., Ltd. Thor Jupiter Shipping Co., Ltd. Thor Alliance Shipping Co., Ltd. Thor Nautilus Shipping Co., Ltd. Thor Wind Shipping Co., Ltd. Thor Wave Shipping Co., Ltd. Thor Dynamic Shipping Co., Ltd. Thor Enterprise Shipping Co., Ltd. Thor Harmony Shipping Co., Ltd. Thor Integrity Shipping Co., Ltd. Thor Transit Shipping Co., Ltd. Thor Nectar Shipping Co., Ltd. Thor Nereus Shipping Co., Ltd. Thor Endeavour Shipping Co., Ltd. Thor Energy Shipping Co., Ltd. ISS Thoresen Agencies Ltd. T.S.C. Maritime Ltd. Chidlom Transport & Services Co., Ltd. Chidlom Marine Services & Supplies Ltd. Fearnleys (Thailand) Ltd. P.T. Fearnleys Indonesia ISS Thoresen Agencies Ltd. T.S.C. Maritime Ltd. Chidlom Transport & Services Co., Ltd. Chidlom Marine Services & Supplies Ltd. Fearnleys (Thailand) Ltd. P.T. Fearnleys Indonesia ISS Thoresen Agencies Ltd. T.S.C. Maritime Ltd. Chidlom Transport & Services Co., Ltd. Chidlom Marine Services & Supplies Ltd. Fearnleys (Thailand) Ltd. |
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| Information required pursuant to Listing Rule 704(7)(h) | ||
| a. | Whether at any time during the last 10 years, a petition under any bankruptcy laws of any jurisdiction was filed against him or against a partnership of which he was a partner? | No |
| b. | Whether at any time during the last 10 years a petition under any law of any jurisdiction was filed against a corporation of which he was a director or key executive for the winding up of that corporation on the ground of insolvency? | No |
| c. | Whether there is any unsatisfied judgement against him? | No |
| d. | Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment for 3 months or more, or has been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) for such purpose? | No |
| e. | Whether he has ever been convicted of any offence, in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) for such breach? | No |
| f. | Whether at any time during the last 10 years, judgement has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misinterpretation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings which he is aware of involving an allegation of fraud, misinterpretation or dishonesty on his part)? | No |
| g. | Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation? | No |
| h. | Whether he has ever been disqualified from acting as a director of any corporation, or from taking part directly or indirectly in the management of any corporation? | No |
| i. | Whether he has ever been the subject of any order, judgement or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| j. | Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :- | |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | No | |
| (ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No | |
| (iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No | |
| (iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, | No | |
| in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | ||
| k. | Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | No |
| Information required pursuant to Listing Rule 704(7)(i) | ||
| Any prior experience as a director of a listed company? | Yes | |
| If yes, please provide details of prior experience. | 2005-Present Managing Director Thoresen Thai Agencies Public Company Limited | |
| Other Notes | ||
| Footnotes | Macquarie Securities (Singapore) Pte Limited was the Sole Global Coordinator, Bookrunner and Underwriter for, and Macquarie Securities (Asia) Pte Limited was the Issue Manager for, the initial public offering of the Company. This announcement has been prepared and released by the Company. |