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BM Mobility 'will consider' finding third independent director: Board
MAINBOARD-LISTED BM Mobility’s lead independent director is stepping down, leaving two independent directors - one of whom lives abroad - on the four-man board.
Soh Beng Keng, 66, will leave on Aug 24 after nine years as a board member, the electric scooter company disclosed on Friday.
Other recent departures include the resignation of finance and administration general manager Wilson Chua in January 2019, and the sacking of group financial controller Lim Gwo Bin in April.
BM Mobility said in a bourse filing that Mr Soh’s resignation was “to facilitate board renewal”. Independent director Loh Ji Kin will replace him as lead independent director.
Meanwhile, Malaysian resident Geoffrey Ng - who joined the board in June 2018 and stepped down on Aug 16, 2019 - has now agreed to stay on as an independent director, “to fill the vacant position”.
Mr Loh will chair the audit and nominating committees, while Mr Ng will head the remuneration committee. With just two independent directors left, BM Mobility said that it “will consider sourcing for an additional non-executive or independent director to fill the vacancy of the board committees”.
The other two members of BM Mobility’s board are executive chairman Koo Ah Seang and chief executive Tay Wee Kwang. However, Singapore bourse guidelines call for independent directors to make up at least one-third of the board.