The latest amendments to the Singapore Exchange's (SGX) listing rules are the result of a "bigger step" that the Corporate Governance Council felt should be taken to strengthen director independence and encourage board renewal and diversity for listed companies, a corporate governance expert said.
The concept of independent directors was introduced with the Code of Corporate Governance in 2001. But in this latest revision of the code, the council felt a somewhat bigger step needed to be taken, Associate Professor Mak Yuen Teen of the National University of Singapore Business School told The Straits Times.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you