Linc Energy appoints new director, cuts pay of senior staff members

SINGAPORE - Oil and gas exploration company Linc Energy has appointed Mr Ong Tiong Soon as non-executive director of the company while slashing salaries of its other senior staff for a year.

Mr Ong, a petroleum industry expert, was earlier the energy chief executive of Genting Bhd.

Linc chairman Peter Bond, chief executive Craig Ricato and the non-executive directors of Linc's board have also agreed to take a 20 per cent pay cut for a year beginning July 1, after which the decision will be reviewed.

Non-executive director Ken Dark has been redesignated as an independent non-executive director.

The company will also merge its nominating and remuneration committees, whose members will be determined at a board meeting to be held on June 25.