FRASERS Property announced on Friday (Feb 7) evening that its board chairman, Thai billionaire Charoen Sirivadhanabhakdi, will retire from office on Feb 8, 2025.
He will be succeeded by Chumpol NaLamlieng, the former president of Siam Cement Group. Chumpol has served as Singtel chairman and held directorships at Sembcorp, British Airways and Siam Commercial Bank.
Charoen, 80, is retiring from the board of Frasers Property, in line with the group’s plans for board refreshment and renewal, it said in a bourse filing.
In recognition of his contributions to the company, he will be appointed chairman emeritus with effect from Feb 8, following his retirement.
“The board of Frasers Property expresses its sincere appreciation to Mr Charoen for his inspiring leadership and invaluable contributions as chairman of the board over the years, and looks forward to continuing to benefit from his wisdom and insight,” it said.
Separately, the group announced other board changes on Friday night.
Tan Pheng Hock, a non-executive and independent director who also served as a member of the group’s sustainability and risk management committee, will retire from office.
Dr Nithinart Sinthudeacha will succeed him as a non-executive and independent director, as well as a member of the committee.
Shares of Frasers Property closed flat at S$0.85 on Friday, before the announcement.
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