Norman Ip to step down as Great Eastern's non-executive, non-independent director

GREAT Eastern Holdings G07 on Friday (Feb 25) announced that Norman Ip will step down from his role as a non-executive, non-independent director of the board on Feb 28, a position he has held for more than 9 years.

The 69-year-old is also a member of the group's nominating and risk management committees, said the group in a filing to the Singapore Exchange.

According to Great Eastern Life's website, Ip was first appointed to the board on Mar 5, 2010, and was last re-elected as a company director on Apr 18, 2019.

He served as Great Eastern's acting group chief executive officer from Jul 1, 2014 to Nov 1, 2015, and is also a director of a number of Great Eastern's principal insurance subsidiaries, including Great Eastern Life and Great Eastern General Insurance.

Ip is also the chairman of a number of Great Eastern's Malaysian subsidiaries.

Shares of Great Eastern ended Friday at S$20.65, down 0.6 per cent or S$0.12.