Fu Yu appoints Victor Lim as managing director after board dispute
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Fu Yu has appointed Victor Lim as managing director following a board dispute. Lim, the largest shareholder, was reinstated as director of strategy in January after a previous departure. His appointment comes after all independent directors resigned amid a probe into the company's supply chain unit. The reconstituted board includes Lim, non-executive chairman Gilbert Rodrigues, and independent directors. Fu Yu shares rose 3% to S$0.102 before the announcement.
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