Asti chairman steps down amid ‘uncertainty’
Mia Pei
SEMICONDUCTOR company Asti Holdings’ non-executive chairman and director Dr Kriengsak Chareonwongsak has resigned with effect from Monday (Jan 8).
Dr Kriengsak cited “the uncertainty and divergence in the future direction of the company” as the reason for him to step down, said Asti on Wednesday.
He was appointed on Aug 12, 2011, to provide input on the company’s broad strategic directions and manage its daily operations.
The announcement came after Asti said that its adjourned annual general meeting (AGM) for FY2021 will take place on Feb 1. (see *Amendment note)
The resolutions to be resolved during the AGM involve the re-election of Anthony Loh as executive director, Charlie Jangvijitkul as non-executive and independent director, Theerachai Leenabanchong as non-executive and non-independent director, as well as Mohd Sopiyan Mohd Rashdi as lead independent director.
Asti noted that there have been three cessations of appointments that required reporting under the listing rules over the past 12 months, including the recent chairman stepping down.
Over the past year, Rashdi resigned as an independent director due to health reasons on May 15 and Dr Daniel Yeoh resigned as independent director due to “personal commitments” on May 1.
*Amendment note: An earlier version of this article indicated the AGM for FY2021 to be held on Feb 2. The AGM date should be Feb 1.
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