Ultragreen.ai appoints two new independent directors; Hsieh Fu Hua steps down as independent director
[SINGAPORE] Ultragreen.ai announced a number of board changes on Friday (Oct 2), as part of its next phase of development.
Lead independent director Hsieh Fu Hua stepped down the same day to devote more time to other commitments; he had taken on a deputy chairman role at CapitaLand Investment and chairmanship at the National Wage Council in August.
Nicky Tan, currently an independent director, will be appointed lead independent director in his place.
Tan will remain chairman of the nominating committee and a member of the audit and risk committee and remuneration committee.
Ultragreen.ai chairman Kwa Chong Seng expressed thanks on behalf of the board and the management for the “guidance insights and commitment” that Hsieh brought to his stint in the biotech company.
Ultragreen.ai also appointed Sonia Gan Shiying and Keoy Soo Earn as independent directors. Gan, 41, is currently an investment director at Vertex Ventures, and brings with her 18 years of experience in investment management and corporate finance.
Koey, 57, was formerly from consultancy Deloitte, with stints as its private equity leader.
Following Hsieh’s departure and new appointments, the board now consists of seven directors, among whom five are independent.
Kwa said: “The board will work closely with (CEO) Ravi (Sajwan) and the management to advance the company’s long-term strategy.”
Shares of Ultragreen.ai. down 0.9 per cent or US$ 0.005 to US$0.565 on Friday.
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