It is heartening that DBS is leading by example to regularly renew its board of directors, to stay nimble and forward-looking (DBS names ex-GIC and ex-PepsiCo veterans to its boards, March 24).
This is also consistent and aligned with corporate governance best practices.
The board of directors should also have an appropriate balance and mix of skills, knowledge and experience. The deep expertise and rich experience of former GIC stalwart Anthony Lim and former PepsiCo India marketing head Punita Lal provide just that, and make this renewal of the DBS board all the more relevant and timely.
Investment research, moreover, also supports the case that board renewal improves corporate performance such as shareholder returns.
With the rest of the Singapore Exchange blue chip ecosystem following DBS' lead on robust board renewal, Singapore's international standing as a global financial centre can only grow from strength to strength.
Woon Wee Min