Sembcorp chairman Ang Kong Hua retires, Tow Heng Tan appointed 

SEMBCORP Industries said on Wednesday (Feb 22) that chairman Ang Kong Hua will be retiring at its upcoming annual general meeting on Apr 20. 

Current deputy chairman Tow Heng Tan will take over as non-executive and non-independent chairman. 

Tow is currently the chief executive of private equity firm Pavilion Capital International, and has held previous senior leadership positions in Temasek International. 

He was first appointed to the board in June 2021, and serves as a member of the executive committee (Exco), executive resource and compensation committee (ERCC) and nominating committee (NC). 

Ang, who has served as Sembcorp’s chairman since 2010, led the company through major developments, such as the demerger of Sembcorp’s stake in Sembcorp Marine and the internationalisation of its operations.

He said: “I am grateful and privileged to have contributed to and witnessed the transformation of Sembcorp, and to have worked with so many committed and talented members of Sembcorp’s board and management over the years.

“I am confident that Sembcorp under Heng Tan’s leadership, with his extensive business and management experience and passion for sustainability, will continue to deliver performance and growth as it executes its brown to green transformation strategy.”

Non-executive and independent director Lim Ming Yan will be appointed as lead independent director from Apr 20 in view of Tow’s upcoming role as non-independent chairman. 

Lim will also step up as chairman of the ERCC and NC, and be appointed as a member of the Exco. He will step down as a member of the risk committee. 

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The company also announced that non-executive and independent director Tham Kui Seng will be stepping down on Apr 20 after 11 years on the board.