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.