Singtel chairman Simon Israel steps down

AFTER nine years in the role, Simon Israel has stepped down as chairman of Singapore Telecommunications (Singtel).

Mr Israel, 67, exited the board of directors after the conclusion of the annual general meeting (AGM) on Thursday.

He was appointed as chairman on 2011, and as a director in 2003.

Mr Israel's planned retirement from the board was announced last December, when Singtel also named Temasek director Lee Theng Kiat as chairman-designate at the telco. Mr Lee started in the chairman-designate position in January this year.

On Thursday, Singtel said in a bourse filing that Mr Israel held about 1.1 million Singtel ordinary shares in the name of Citibank Singapore Pte Ltd and 4.4 million ordinary shares in the name of DBS Nominees (Private) Limited.

Mr Israel remains mainboard-listed Singapore Post's chairman and non-executive non-independent director. He is also a director of Stewardship Asia Centre CLG.

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Singtel shares closed at S$2.48 on Thursday, down S$0.02 or 0.8 per cent, before the announcement.

At the AGM on Thursday, the telco's shareholders passed an amendment to include a scrip dividend scheme in the company constitution.