Wilmar International’s F34 board of directors has appointed former foreign minister George Yeo as a non-executive and independent director with effect from April 19.
Teo Siong Seng, a non-executive and independent director of Wilmar, will retire with effect from the same date.
Yeo was formerly a non-executive and non-independent director of Wilmar from November 2014 to December 2017.
He was also chairman of Hong Kong Stock Exchange (HKSE) listed Kerry Logistics Network from August 2012 to May 2019 and director of Kerry Holdings from July 2016 to May 2019. From June 2019 to May 2021, he also served as senior adviser to Kuok Group.
Although Yeo was not a nominee of the Kuok and Kerry group when he was on the Wilmar board, he was then considered a non-independent director because of his association with the Kuok and Kerry group of companies, which are substantial shareholders of Wilmar but not related corporations.
Yeo is currently an independent non-executive director of HKSE-listed AIA Group, NASDAQ-listed Pinduoduo and Singapore Exchange S68 (SGX) listed Creative Technology C76 .
See also: Singapore-based manufacturer Hi-P International appoints Apple veteran to board
He was a member of the Singapore Parliament from 1998 to 2011 and served in various senior positions including as Minister for Information and the Arts, Minister for Health, Minister for Trade and Industry and Minister for Foreign Affairs.
Shares in Wilmar closed 2 cents higher or 0.59% up at $3.40 on April 19.
