CITY DEVELOPMENTS LIMITED ANNUAL REPORT 2021 CORPORATE GOVERNANCE 26 27 BOARD OF DIRECTORS ONG LIAN JIN COLIN, 53 Independent Non-Executive Director First appointment as Director 7 October 2020 Last re-election as Director 30 April 2021 (Will be seeking re-election at the 2022 Annual General Meeting) Board committees • Nominating Committee (Chairman) • Remuneration Committee (Member) Present directorships in other listed companies* and principal commitments • Great Eastern Financial Advisers (Executive Senior Director) Other appointments • Nil Past directorships in other listed companies* and principal commitments held in the preceding five years • Nil Mr Ong is the Founder of Advisors’ Clique and Executive Senior Director of Great Eastern Financial Advisers, a position he has held since 2011. A veteran in the financial services industry with more than 29 years of experience, he has achieved the Million Dollar Round Table (MDRT) 26 times since 1993, achieved the Top of the Table in 2020 and is a member of its prestigious MDRT Quarter Century Club. Mr Ong was a recipient of the Centennial Award by Great Eastern Life in 2008, an accolade awarded during its 100th ann i versary i n recogn i t i on of h i s contributions to the company. He was conferred the IBF Fellow award from the Institute of Banking and Finance and was named Asia’s Inspirational Leader of the Year by the Asia Insurance Review in 2015. Mr Ong holds a Bachelor of Arts & Social Sciences from the National University of Singapore. He is also a Chartered L i f e Unde rwr i t e r and Cha r t e r ed Financial Consultant. SHERMAN KWEK EIK TSE, 46 Executive Director Group Chief Executive Officer First appointment as Director 15 May 2019 Last re-election as Director 24 June 2020 (Will be seeking re-election at the 2022 Annual General Meeting) Board committees • Board Sustainability Committee (Chairman) Present directorships in other listed companies* and principal commitments • CDL China Limited (Executive Chairman) (non-listed) Other appointments • Business China (Board Member) • Chinese Development Assistance Council (Member of Board of Trustees) • Singapore Health Services Pte Ltd (Member of SingHealth Property Committee) Past directorships in other listed companies* and principal commitments held in the preceding five years • Singapore Chinese Chamber of Commerce and Industry (SCCCI) (Council Member) • SCCCI - Youth Business Affairs Committee (Chairman) Mr Kwek assumed his current role as Group Chief Executive Officer in January 2018. He is responsible for setting and implementing the business direction and strategies for the CDL Group as endorsed by the Board, providing leadership to drive the pursuit of the Group’s strategic objectives, and having overall management oversight of the Group’s performance. He has held the position of Executive Chairman of CDL China Limited since 2016. Prior to joining CDL, Mr Kwek was the CEO of City e-Solutions Limited (now known as China Tian Yuan Healthcare Group Limited), a Hong Kong-l isted company that was formerly a subsidiary of the Group and which was engaged in the provision of hotel management and electronic distribution services to the global hospitality industry. It was divested by CDL in 2016 for a substantial gain on sale. Since 2019, Mr Kwek has served as a board member of Business China, which aims to nurture an inclusive bilingual and bicultural group of Singaporeans to sustain Singapore’s multi-cultural heritage and develop a cultural and economic bridge linking the world and China. In 2020, he was appointed to the Board of Trustees of the Chinese Development Assistance Council (CDAC), a non-profit self-help group for the Chinese community, and in 2021, he was appointed as amember of the SingHealth Property Committee of Singapore Health Services Pte Ltd. Mr Kwek stepped down from Singapore Chinese Chamber of Commerce and Industry (SCCCI) on 14 March 2022 after serving as a Council Member for 9 years and relinquished his appointments as a Council Member of SCCCI as well as the Chairman of its Youth Business Affairs Committee. Mr Kwek was also formerly a member of the Council for Board Diversity and a board member of the Building and Construction Authority (BCA). He graduated from Boston University, USA wi th a Bachelor of Science in Business Administration, majoring in Finance and Marketing with a minor in Psychology. LEE JEE CHENG PHILIP, 62 Lead Independent Director First appointment as Director 4 January 2021 Last re-election as Director 30 April 2021 Board committees • Audit & Risk Committee (Chairman) • Nominating Committee (Member) • Remuneration Committee (Member) Present directorships in other listed companies* and principal commitments • ComfortDelGro Corporation Limited* Other appointments • Singapore Agro-Food Enterprises Federation Limited (Governing Council Member) • Tech For Good Institute Limited (Board Member) Past directorships in other listed companies* and principal commitments held in the preceding five years • KPMG LLP (Partner) Mr Lee has more than 35 years of experience in accounting and finance. He was admitted into the partnership of KPMG Singapore in 1995 where he served as an audit partner until his retirement in September 2018. During his time at KPMG, Mr Lee had served on the leadership team in KPMG Singapore and on the executive team at KPMG Asia Pacific. In addition, he was the Head of Real Estate, Investment Banking, Private Banking and the Head of an Audit Business Unit. He was also the Head of People and led KPMG to various HR Awards. Mr Lee is also an independent nonexecutive director at ComfortDelGro Corporation Limited, a Member of the Governing Council of Singapore Agro- Food Enterprises Federation Limited and a Board Member of Tech For Good Institute Limited. He is a Fel low of the Inst i tute of Singapore Chartered Accountants and the Association of Chartered Certified Accountants, United Kingdom, and a member of the Singapore Institute of Directors. PHILIP YEO LIAT KOK, 75 Non-Independent Non-Executive Director First appointment as Director 11 May 2009 Last re-election as Director 30 April 2021 Board committees Nil Present directorships in other listed companies* and principal commitments • Economic Development Innovations Singapore Private Limited (EDIS) (Chairman) • Accuron Technologies Limited (Chairman) • Advanced MedTech Holdings Pte. Ltd. (Chairman) • Sunway Berhad* (Independent Director) • Baiterek National Managing Holding (Independent Director) Other appointments • Nil Past directorships in other listed companies* and principal commitments held in the preceding five years • Hitachi Ltd* (Independent Director) • Kerry Logistics Network Limited* (Independent Director) Mr Yeo is the Chairman of Economic Development Innovations Singapore Pte Ltd (EDIS) which provides strategic advice and undertakes the development and managemen t o f i n t eg r a t ed industrial and urban areas with an emphasis on job creation and industrial cluster development. Mr Yeo received the Singapore Public Administration Medal (Silver) in 1974, the Public Administration Medal (Gold) in 1982, the Meritorious Service Medal in 1991 and the Order of Nila Utama (First Class), Singapore’s most prestigious National Day Awards in 2006. He also received the Order of the Rising Sun, Gold and Silver Star from the Government of Japan (2007) and the Distinguished Service (Star) award from the Singapore Labour Movement, National Trade Union Congress (2008). Mr Yeo holds a Bachelor of Appl ied Science (Industrial Engineering) , an honorary Doctorate in Engineering from the University of Toronto, Canada, an honorary Doctorate in Medicine from the Karolinska Institutet, Sweden, a Master of Science (Systems Engineering) from the University of Singapore, a Master of Business Administration from Harvard University, USA, a Doctor of Science from Imper ial Col lege, London, an honorary Doctor of Letters fromNational University of Singapore and an honorary Doctor of Law from Monash University of Australia. DANIEL MARIE GHISLAIN DESBAILLETS, 72 Independent Non-Executive Director First appointment as Director 20 November 2020 Last re-election as Director 30 April 2021 Board committees • Board Sustainability Committee (Member) • Remuneration Committee (Member) Present directorships in other listed companies* and principal commitments • FreshCreation Holdings Pte. Ltd. (Co-owner and Executive Chairman) • Salad Stop Pte. Ltd. (Co-owner and Executive Chairman) Other appointments • Nil Past directorships in other listed companies* and principal commitments held in the preceding five years • Millennium & Copthorne Hotels plc* (Independent Non-Executive Director) (delisted and privatised in 2019 and now known as Millennium & Copthorne Hotels Limited) Mr Desbaillets has an extensive portfolio in the hospital ity industry with 43 years of experience. Mr Desbaillets was appointed to the board of Millennium & Copthorne Hotels plc (prior to its privatisation) in 2016 as an Independent Non-Executive Director and had served in the Audit & Risk, Remuneration and Risk Committees. In 2010, he was the Independent Non-Executive Director of M&C REIT Management Limited, the manager for CDL Hospitality Real Estate Investment Trust (H-REIT) and also of M&C Business Trust Management Limited, the trustee-manager for CDL Hospitality Business Trust (HBT) and had served in their Nominating and Remuneration Committees. Both H-REIT and HBT are comprised as a stapled group in CDL Hospitality Trusts, which is listed on Singapore Exchange Securities Trading Limited.
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