Kitchen Culture appoints new board members, announces cessation of interim CEO

Michelle Zhu

Michelle Zhu

Published Mon, Jul 18, 2022 · 09:35 AM
    • Lau Kay Heng has been appointed vice-chairman and non-executive director of the group’s board, while Peter Lim joins Kitchen Culture as an independent director.
    • Lau Kay Heng has been appointed vice-chairman and non-executive director of the group’s board, while Peter Lim joins Kitchen Culture as an independent director. PHOTO: KITCHEN CULTURE

    KITCHEN Culture on Monday (Jul 18) announced its appointment of 2 new members to its board of directors, along with the cessation of its executive director and interim chief executive Lincoln Teo.

    All changes have taken effect from Jul 15 and a detailed announcement on Teo’s cessation will be released separately in due course, said the embattled kitchen systems vendor in a bourse filing to the Singapore Exchange (SGX). 

    Lau Kay Heng has been appointed vice-chairman and non-executive director of the group’s board, while Peter Lim joins Kitchen Culture as an independent director.

    Both have been designated as members of the group’s audit risk committee (ARC), with Lim also appointed as chairman of the remuneration committee.

    Lau was previously engaged by Kitchen Culture from Oct 1, 2021 to Mar 31, 2022 as an adviser to provide guidance on actions to be taken to notices of compliances issued by the Singapore Exchange Regulation.

    He presently holds directorships at SGX-listed healthcare digitisation company DiSa as well as property developer Regal International, among others.

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    In its bourse filing, Kitchen Culture highlighted Lau’s “extensive listed company experience” as well as previous experience with the group as an independent director, followed by his subsequent appointment as executive director and chief investment officer.

    The group said it also intends for Lau to be in charge of ensuring that its ongoing special audit will be “completed expeditiously” and that the company may resume trading in its shares, which have been suspended since July 2021. 

    On the other hand, Lim is presently managing director of consultancy services company Promise Land. He was previously executive director and chief executive of MG Commercial Bank.

    Kitchen Culture believes Lim’s “in-depth banking experience… will be of strategic value to the future growth of the company including fundraising”.

    With the group’s newest appointments to its board of directors, its requirement to have the minimum number of 3 ARC members has been fulfilled to comply with Catalist rules. This comes after Kitchen Culture was granted an extension of time by the SGX Securities Trading to fill the committee’s vacancies by Aug 17, from the original Jun 17 deadline. 

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