Lim, who happens to be employed by Fu Yu as its director of strategy, is unhappy with the company's deteriorating performance over the last couple of years.
All three of Fu Yu Corp's independent directors, including chairman Christopher Huang, have resigned with effect from June 11, leaving executive director and CEO David Seow alone in the board, according to the company on June 15.
Since Jan this year, one Victor Lim, who is the company's single largest shareholder with a stake of nearly 30%, has made at least three attempts to call for an EGM to remove Huang and another ID Royston Tan.
