In a recent corporate governance dispute, City Developments’ executive chairman Kwek Leng Beng accused his son, Sherman Kwek, the group CEO, of appointing new independent directors without full board approval.
To shed light on the complexities of board appointments, our Senior Director, Kevin Chua, joined Lance Alexander and Daniel Martin on Channel News Asia 938 Daily Cuts. During the discussion, Kevin sheds light on the process of appointing directors, the critical role of the nominating committee, and how the Code of Corporate Governance correlates with the Securities and Futures Act and SGX listing rules.
In this episode, Kevin discusses:
- What is the process for introducing a new director to the board, and must nominations always go through the nominating committee?
- Do independent directors have the same voting rights in the boardroom as executive and non-executive directors?
- Are there limits on the number of directors a board can have?
- Are there legal ramifications for non-compliance with the the Code of Corporate Governance?
- What happens if a board member is removed from the Board, can they seek legal redress?
This interview provides key takeaways for anyone seeking to understand the responsibilities of independent directors, the dynamics of board decision-making, and the legal requirements governing such appointments.
Listen to the full podcast.
Learn more about Kevin Chua‘s expertise in regulatory compliance and corporate governance.
Contact Information
For information and/or assistance on Corporate matters, you may contact:
Kevin Chua
Senior Director
Corporate Practice
(Team Lead for Fintech and Financial Services Regulations)
E: kevin@yuenlaw.com.sg
