SINGAPORE - Indofood Agri Resources has appointed former Economic Development Board and Spring Singapore chairman Philip Yeo as chairman and lead independent director of the company with effect from May 1.

Mr Yeo was also a former special adviser for economic development in the Prime Minister’s Office from 2007 to 2011.

In a regulatory filing on May 1, the company said that he was appointed after taking into account his extensive global experience and network, as well as his experience as a director of Singapore Exchange-listed companies.

He replaces Mr Edward Lee, who stepped down from his roles as chairman and lead independent director on April 30. He had served the company for 17 years.

Vice-chairman and independent director Lim Hock San also stepped down on April 30.

In addition to his role as lead independent director, Mr Yeo will also serve as chairman of the nominating committee and remuneration committee. He remains on the board of seven other companies, including City Developments, QAF and Sunway.

Meanwhile, the company also appointed Mr David Sungkoro as an independent director and chairman of the audit and risk management committee (AC), as well as a member of the nominating committee.

It also appointed Mr Andreas Tan as an independent director, as well as a member of the AC, the nominating committee and the remuneration committee.

In addition, it appointed non-executive director Axton Salim as a member of the remuneration committee. This comes as non-independent, non-executive director Goh Kian Chee stepped down as the chairman of the AC and a member of the remuneration committee on May 1.

Mr Tjhie Tje Fie has also stepped down as a member of the AC, nominating committee and remuneration committee.

IndoAgri shares closed flat at 30 cents on May 2. THE BUSINESS TIMES