SINGAPORE - Sembcorp Industries said on Wednesday that chairman Ang Kong Hua will be retiring at its upcoming annual general meeting on April 20 after 13 years in the role.

Current deputy chairman Tow Heng Tan will take over as non-executive and non-independent chairman.

Mr Tow is currently the chief executive of private equity firm Pavilion Capital International, and has held previous senior leadership positions in Temasek International.

He was first appointed to the board in June 2021, and serves as a member of the executive committee (Exco), executive resource and compensation committee (ERCC) and nominating committee (NC).

Having served as Sembcorp’s chairman since 2010, Mr Ang, 79, led the company through major developments, such as the demerger of Sembcorp’s stake in Sembcorp Marine and the internationalisation of its operations.

“I am grateful and privileged to have contributed to and witnessed the transformation of Sembcorp, and to have worked with so many committed and talented members of Sembcorp’s board and management over the years,” Mr Ang said.

“I am confident that Sembcorp under Heng Tan’s leadership, with his extensive business and management experience and passion for sustainability, will continue to deliver performance and growth as it executes its brown to green transformation strategy,” he added.

Non-executive and independent director Lim Ming Yan will be appointed as lead independent director from April 20 in view of Mr Tow’s upcoming role as non-independent chairman.

Mr Lim will also step up as chairman of the ERCC and NC, and be appointed as a member of Exco. He will step down as a member of the risk committee.

The company also announced that non-executive and independent director Tham Kui Seng will be stepping down on April 20. Mr Tham served on the company’s board for 11 years. THE BUSINESS TIMES