$1 a year pay for Hyflux CEO Olivia Lum as possible white knight steps forward

Chief executive Olivia Lum said she "will only draw a nominal $1 annual salary until Hyflux is successfully restructured".
Chief executive Olivia Lum said she "will only draw a nominal $1 annual salary until Hyflux is successfully restructured".PHOTO: ST FILE

The highly paid boss of Hyflux will now get just $1 a year as she tries to save the debt-laden water treatment company.

Chief executive Olivia Lum made the disclosure in an affidavit released to the public yesterday, the same day the firm announced that a new white knight has appeared on the horizon bearing a possible $400 million lifeline.

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A version of this article appeared in the print edition of The Straits Times on April 26, 2019, with the headline '$1 a year pay for CEO as possible white knight steps forward'. Print Edition | Subscribe