Koyo International Chair to Retire After Nearly Nine Years
Koyo International's independent non-executive chairman, Wong Loke Tan, will retire after nearly nine years, effective after the April 25 annual general meeting. Wong has been on the board since August 2016 and will step down before reaching the nine-year tenure limit. His departure will leave the audit committee below the required minimum of three members. The company plans to appoint a new independent director within two to three months following the AGM.
Koyo International said independent non-executive chairman Wong Loke Tan will retire at the conclusion of its April 25 annual general meeting, according to a Wednesday filing on the Singapore Exchange.
Wong, who has been on the board since August 2016, will step down ahead of reaching a nine-year tenure limit. He will also cease to serve as chairman of the audit committee and as a member of both the nominating and remuneration committees.
Following his departure, the audit committee will fall below the required three-member minimum. The company said it plans to appoint a new independent director within two months, or no later than three months from the AGM date.
