Pan-United announces board changes, including new CEO
Chief operating officer Ken Loh Kah Soon has replaced May Ng as the company’s CEO
READY-MIX concrete producer Pan-United Corporation announced several changes to its board effective from Monday (Jul 15), with current chief executive officer May Ng stepping down after 13 years at the helm.
Ken Loh Kah Soon has succeeded Ng as CEO, and has since relinquished his position as chief operating officer. He will be responsible for implementing the group’s overall strategies as well as the management and growth of the group, Pan-United said in a bourse filing.
Loh has also been appointed as a member of the executive committee. He first joined Pan-United as general manager in 1999 and holds 2.8 million shares in the company.
Said Ng of Loh’s appointment: “We are very pleased to announce Ken’s appointment as CEO of the company. Ken has been instrumental in our transformation from a brick-and-mortar concrete company to a global leader in low-carbon concrete technologies.”
Meanwhile, Ng has been appointed executive chairman of Pan-United’s board. She succeeds Tay Siew Choon, who retired after serving as a director of the company for close to 20 years.
Other changes to Pan-United’s board include the appointment of practising lawyer Chan Wan Hong as independent director, a member of its audit committee, as well as a member of its remuneration committee.
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A senior director at FC Legal Asia, Chan has extensive experience in capital market transactions and advises Singapore Exchange-listed companies on their corporate actions and compliance requirements. He is also an independent non-executive director of Centurion Corporation and an independent non-executive director of Multi-Chem.
The company has also re-designated Fong Yue Kwong from independent director to lead independent director of the company, on top of being appointed as an audit committee member. He has more than 40 years of experience in the port, marine supply base and logistics industries in Singapore and Asia.
Lastly, the company has appointed Soh Ee Beng as chairman of the nominating committee.
Shares of Pan-United closed at S$0.53, down S$0.01 or 1.9 per cent on Monday, before the announcements.
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