In the wake of shareholders' vote, two board departures at USP Group within a fortnight

SINGAPORE (July 20): A disgruntled USP Group shareholder failed to oust key directors of the board, but some three months after an EGM was called, the company’s board has seen two departures within the past fortnight.

On Wednesday, as “part of Board restructuring”, the company announced the resignation of executive director Raphael Tham Wai Mun.

Tham, a former EDB official, has been long associated with executive chairman Tony Li Hua, who also runs his privately-held fund management firm Sunmax Capital.

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