SINGAPORE - Five new members were appointed to the board of the Singapore Economic Development Board (EDB), while three members have stepped down after completing their terms, the Ministry of Trade and Industry (MTI) announced on Tuesday (Jan 31).

The new appointees are:

- Hitachi Ltd chief executive (Asia-Pacific), Mr Ichiro Iino , Hitachi

- Dean of Insead, Professor Ilian Lubomirov Mihov

- IBM Asia Pacific chairman and chief executive officer, Mr Randy Isaac Walker

- Keppel Corporation CEO, Mr Loh Chin Hua

- Singapore Exchange CEO, Mr Loh Boon Chye

Leaving the board are:

- Tata Communications Ltd managing director and group CEO, Mr Vinod Kumar

- ST Engineering advisor, Mr Tan Pheng Hock

- Chevron Corporation vice president for strategic planning, Mr Mark Nelson

EDB is the lead government agency for planning and executing strategies to enhance Singapore's position as a global business centre. Its board is chaired by Dr Beh Swan Gin.