Prudential appoints ex-Singtel CEO and head of KKR Asia-Pacific as non-executive directors

PRUDENTIAL has appointed former Singtel chief executive Chua Sock Koong as well as KKR's Asia-Pacific head Ming Lu as its non-executive directors. (see amendment note)

They will both will join its board on May 1.

"(Prudential's) board is appointing individuals with the experience and skills to guide its transformation into a business focused exclusively on Asia and Africa," said its chairperson Shriti Vadera.

Ms Chua, who retired from Singtel on Jan 1, has over 30 years of experience in business leadership and operations throughout Asia. She is also a non-executive director of Bharti Airtel Limited in India and a member of Singapore's Council of Presidential Advisors.

Mr Lu, who is also a partner at KKR Asia Pacific, also has over 30 years of experience in investing and developing businesses throughout the Asia-Pacific.

He has held various operating and investing positions throughout his career, including working for eight years at China's CITIC. He is currently an independent non-executive director of Jones Lang LaSalle Inc.

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Neither of them holds any interest in any shares in Prudential. The annual fee for their appointment as non-executive directors will consist of a basic fee of £99,000 (S$179,560) each, which is determined by the board and reflective of their individual responsibilities.

Shares of Prudential closed flat at US$15 on Thursday.

Amendment note: An earlier version of this article incorrectly stated that it was Prudential Singapore who appointed former Singtel chief executive Chua Sock Koong as well as KKR's Asia-Pacific head Ming Lu as its non-executive directors. It is in fact Prudential.