SGX announces board changes, appoints Yeoh Oon Jin as independent director

THE Singapore Exchange (SGX) on Thursday said it appointed Singapore Land Authority's chairman Yeoh Oon Jin as a non-executive and independent director (ID) to its board, effective today.

Mr Yeoh was formerly executive chairman of PricewaterhouseCoopers (PwC) Singapore, where he has served since 1986 before his retirement from the group on June 30, 2021.

Separately, SGX announced that its board members Kwa Chong Seng and Kevin Kwok will both be considered non-independent from Sept 20 this year, on the account of each of them having completed nine consecutive years of service on the bourse's board.

With this, independent non-executive director Beh Swan Gin will be appointed as SGX's lead ID from Sept 20, 2021. He was recently appointed as chairman of the nominating and governance committee (NGC) with effect from June 15 this year.

Mr Yeoh will serve as the bourse's audit committee (AC) chairman as well as a member of the risk management committee with effect from Sept 1, 2021. He will replace Mr Kwok, who steps down from his position as chairman of the AC but remains a member.

On the other hand, Mr Kwa has stepped down as chairman of the NGC and of the remuneration and staff development committee (RSDC) but remains a member of both committees. He is succeeded by Lim Chin Hu as chairman of the RSDC, effective today.

Shares of SGX closed S$0.09 or 0.81 per cent lower at S$11.09 on Thursday, after the announcement.