Marco Polo Marine announces board reshuffle

MARCO Polo Marine on Thursday announced changes made to its board that will take effect on March 1.

Liely Lee ceases to be an executive director on the board, and will at the same time be appointed as an alternate director to executive chairman Lee Wan Tang. According to a separate filing to the Singapore Exchange, she is responsible for all of the group's finance, accounting, treasury and strategic development.

She is Mr Lee's daughter, and the sister of chief executive officer (CEO) Sean Lee Yun Feng.

Lai Qin Zhi, who is the elder Mr Lee's wife and mother of CEO Sean Lee, will cease her duties as a non-executive director on the board to "pursue other career interests".

Meanwhile Teo Junxiang, Darren and Jeffrey Hing Yih Peir have both been appointed non-executive directors, while Tan Hai Peng, Micheal will be appointed as an independent non-executive director.

Marco Polo closed flat on Thursday at 3.6 Singapore cents.