Make nine-year cap mandatory for independent directors: Sias
Singapore
THE proposed nine-year threshold for independent directors (IDs) should be set as a hard limit and written into the Singapore Exchange (SGX) Listing Rules, says David Gerald, founder of the Securities Investors Association (Sias).
Mr Gerald, who is also the chief executive officer and president of Sias, says the proposal to have at least one-third of the board consist of IDs should also be made part of the Listing Rules, as should the requirement that the majority of the board be composed of IDs if the chairman is not independent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Far East Orchard acquires 49% stake in UK-based purpose-built student accommodation operator for £17.6 million
Nestle sales growth sputters on US slump, vitamin snags
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion