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UTILITIES group Sembcorp Industries has named restructuring specialist Nicky Tan Ng Kuang, who runs nTan Corporate Advisory, to its board executive committee (exco) as an independent non-executive director with effect from Jan 1, it said on Thursday morning.
This move comes after Sembcorp appointed him an independent director on Nov 1, 2015.
The other three members of the exco after Mr Tan joins will be board chairman Ang Kong Hua; Sembcorp group president and chief executive officer Tang Kin Fei; and Margaret Lui, a non-executive and non-independent director.
Mr Tan is likely taking over the exco seat of Goh Geok Ling, who had been a non-executive and independent director. Mr Goh retired from the board at Sembcorp's annual general meeting in April 2015.
According to Sembcorp's annual report 2014, the exco is in charge of reviewing and approving business opportunities, strategic investments, divestments and major capital and operating expenditure, within the limits of authority set by the board. It also evaluates and recommends larger investments, capital and operating expenditure as well as divestments to the board for approval, according to the annual report.