SIA redesignates Hsieh Tsun-yan as non-independent director

FLAG carrier Singapore Airlines C6L announced on Tuesday (Dec 28) that independent director Hsieh Tsun-yan will be redesignated as a non-independent director of SIA from Jan 1, 2022.

He has been a director of SIA since Sep 1, 2012 and has served the board for more than 9 years. He is also concurrently the chairman and lead counsellor of leadership services firm LinHart Group, which counsels chief executive officers and advises boards.

Hsieh will remain as a member of SIA's board audit committee, the board compensation and industrial relations committee as well as the board executive committee.

Back in June this year, it was noted that Hsieh had sold off his provisional allotments for this and last year's tranches of SIA's rights issue of mandatory convertible bonds (MCBs). He made S$84 in total proceeds then.

As part of SIA's bourse filing on Hsieh's redesignation, it disclosed that he continues to hold 39,250 ordinary shares in the company.

SIA shares closed up 1 per cent or S$0.05 to close at S$4.98 on Tuesday.

READ MORE: Most directors take up SIA's MCBs, but an ID sold his