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Investor Relations - News
Change - Announcement Of Cessation As Group Chief Executive Officer
BackMay 31, 2024
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | May 31, 2024 17:25 |
| Status | New |
| Announcement Sub Title | Cessation as Group Chief Executive Officer |
| Announcement Reference | SG240531OTHRKQ07 |
| Submitted By (Co./ Ind. Name) | Tan Lee Fang |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Mr Kuah Boon Wee to step down as Group Chief Executive Officer and Executive Director of the Company, transitioning to Non-Executive Director role |
| Additional Details | |
| Name Of Person | Kuah Boon Wee ("Mr Kuah") |
| Age | 57 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 01/07/2024 |
| Detailed Reason (s) for cessation | Mr Kuah's retirement as the Executive Director and Group Chief Executive Officer of the Company is part of the Company s strategic succession planning. Mr. Kuah will continue to contribute to the Group as a non-executive member of the Board, offering his guidance and support to the new Group CEO. |
| Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? | No |
| Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? | No |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| Date of Appointment to current position | 01/07/2010 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of Independent Directors currently resident in Singapore (taking into account this cessation) | 4 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Group Chief Executive Officer |
| Role and responsibilities | Mr Kuah is accountable to the Board for the overall performance of MTQ Group's business operations and strategic planning. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Mr Kuah is the son of our Non-Executive Chairman, Mr Kuah Kok Kim. |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | 7,669,539 ordinary shares of MTQ Corporation Limited |
| Past (for the last 5 years) | Please refer to Appendix A |
| Present | Please refer to Appendix A |
Attachments
- Appendix A (Size: 44,574 bytes)