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CONGLOMERATE Fraser & Neave (F&N) is dissolving a controversial $1 million-a- year consultancy agreement it inked with its chairman Lee Hsien Yang last year.
However, the consultancy fee will still be paid to Mr Lee - but it will be paid as director's fees instead.
That means it will be put to a vote by shareholders, according to F&N's annual report which was released yesterday.
Mr Lee joined the property, food & beverage and publishing conglomerate as its non-executive chairman last October, replacing Dr Michael Fam who was retiring.
Read the full story in Wednesday's edition of The Straits Times.
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