Banker John d'Abo among 3 directors appointed in Rex International's board renewal

INVESTMENT banker John d’Abo has joined oil production company Rex International : 5WH 0%as an independent director, the board said as it made new appointments on Wednesday (May 4).

D’Abo, 53, will serve on the remuneration and nominating committees. Among other roles, he was previously head of Asia equity capital markets for RBC Capital Markets in Hong Kong from 2012 to 2014 and Asia-Pacific head of Corestate Capital in Singapore from 2015 to 2016.

D’Abo is now the director of a British consultancy, joint chairman and chief executive of a group of Romanian companies, and chief operating officer of a caviar company, Rex noted.

The second new independent director is accountant Mae Heng, 51, who will chair the audit committee. Executive chairman Dan Broström called her “the first female director on our board”.

Meanwhile, Mathias Lidgren, 40, a doctor related to key shareholders and executives, has been named a non-independent, non-executive director serving on the nominating committee.

Lidgren is the son of controlling shareholder Hans Lidgren and nephew of executive director Karl Lidgren, who are deemed interested in a 34.71 per cent stake in Rex. He is also the cousin of chief executive officer Mans Lidgren and sibling of chief technology officer Lina Berntsen.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Lidgren has a direct interest of 0.54 per cent, or 7 million ordinary shares, in Rex.

The latest appointments were made “as part of the company’s progressive renewal of the board”, according to bourse filings by Rex.

Broström added in a press statement: “Mae’s extensive experience with companies operating in the region, John’s strong business network throughout Europe and Asia, and Mathias’ fresh perspectives on technology and business, will further enhance the board’s diversity and strengths to guide the group in business sustainability, strategic direction and growth.”

The counter closed flat on Wednesday at S$0.335, with 12.4 million shares traded.