SUTL Enterprise has announced the appointment of traditional Chinese medicine (TCM) company Eu Yan Sang’s chairman Richard Eu as an independent director and chairman of the board effective Dec 31.
Eu replaces Lew Syn Pau who is resigning from the board. Lew was appointed as non-executive chairman in February 2009 and was last re-elected in April 2018. He has been an independent director of the company since April 2000.
In a filing to the Singapore Exchange (SGX) on Dec 23, SUTL states Lew has decided to step down to allow the board to “refresh and renew its slate of independent directors”.
In addition to chairing the board, Eu will also chair the board nominating committee and be a member of the audit and remuneration committees.
As at 2.37pm, shares in SUTL are up 1 cent or 2.08% higher at 49 cents.
