City Developments Limited (CDL) is appointing Kwek Eik Sheng to the newly-created position of group chief operating officer (GCOO) from Jan 1, 2022.
Kwek has held various roles in CDL and is currently the group's chief strategy officer. The 40-year-old is the nephew of Kwek Leng Beng, executive chairman of CDL; and the cousin of Sherman Kwek, executive director and group chief executive officer of CDL.
As GCOO, Kwek will be responsible for providing leadership to the Group that aligns with its business plan and strategic vision as endorsed by the Board, working closely with the Group CEO and other members of the management team to drive operational and financial results, says CDL in a Singapore Exchange (SGX) filing on Dec 28.
Kwek Eik Sheng (Photo: CDL)
CDL is also redesignating Philip Yeo Liat Kok, a CDL board member of more than nine years, to a non-independent non-executive director role from Jan 1, 2022.
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Yeo had earlier announced his intention to step down from the board before the end of 2021. However, the company's nominating committee recommended that he remain "to maintain a balance of experienced and new independent directors on the board", says the company.
Yeo will cease to be chairman and member of the nominating committee (NC), as well as a member of the board sustainability comittee (BSC).
Independent non-executive director Ong Lian Jin Colin will take over as chairman of the nominating committee, while independent non-executive director Chong Yoon Chou will be appointed as a member of the BSC.
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In addition, CDL has appointed Baker McKenzie.Wong & Leow lawyer Wong Ai Ai as an independent director on its board.
Wong Ai Ai (Photo: CDL)
"Wong is one of Baker McKenzie.Wong & Leow’s most distinguished lawyers, with a career that spans leading a range of landmark transactions for blue-chip clients, to global management and leadership roles at the highest levels of Baker McKenzie, including serving as a member of Global Executive Committee and Chair of the Asia Pacific Region," says CDL.
Wong is a board member of Singapore Tourism Board and former Chairman of the Yellow Ribbon Fund. She is also a founding steering committee member of Climate Governance Singapore Limited, a World Economic Forum-led initiative.