The Chairman is responsible for the workings of the Board, ensuring the integrity and effectiveness of its governance process.
In his absence, his appointed alternate would act on his behalf.
The President is the most senior executive in the Company and has full executive responsibilities over the business directions
and operational decisions of the Group. He works closely with the Board to implement the policies set by the Board to realise
the Group’s vision.
BOARD MEMBERSHIP
Principle 4
Recommendations for nominations of new directors and retirement of directors are made by the Nominating Committee (“NC”)
and considered by the Board as a whole.
The NC reviews and assesses candidates for directorship before making recommendations to the Board. The NC takes into
consideration the skills and experience required and the existing composition of the Board and strives to ensure that the Board
has an appropriate balance of independent directors as well as directors with the right profile of expertise, skills, attributes and
abilities when recommending new directors to the Board.
The process for the appointment of new directors begins with the NC, together with the Chairman and President cum Vice
Chairman of the Company, conducting a needs analysis and identifying the critical requirement in terms of expertise and skills
that are needed in the context of the strengths and weaknesses of the existing Board. When a candidate has been endorsed
by the NC, the NC will then make a recommendation to the Board for the approval of his appointment.
The NC assesses and recommends to the Board whether retiring directors are suitable for re-nomination for re-election. In
evaluating a director’s contribution and performance for the purpose of re-nomination, the NC takes into consideration a variety
of factors such as attendance, preparedness, participation and candour.
In accordance with the provisions of the Constitution, one-third of the Directors retires by rotation and subjected themselves
to re-election at every Annual General Meeting (“AGM”) of the Company. In addition, new directors who were appointed by the
Board during the year will hold office only until the next AGM and will be eligible for re-election.
The dates of initial appointment and last re-election of each of the Directors of the current Board are set out below:
Director
Position
Date of Initial
Appointment
Date of Last
Re-election /
Re-appointment
Wang Yu Hang
Chairman and Non-Independent and Non-Executive
19.1.2016
NA
Wu Zi Heng
Vice Chairman, President and Non-Independent Executive
5.11.2011
23.4.2014
Liu Lian An
Non-Independent Executive
20.2.2012
24.4.2015
Liang Yan Feng
Non-Independent and Non-Executive
8.7.2014
24.4.2015
Ma Zhi Hong
Non-Independent and Non-Executive
2.8.2010
22.4.2013
Tom Yee Lat Shing Non-Executive Lead Independent
16.11.1993
24.4.2015
Wang Kai Yuen
Non-Executive Independent
2.5.2001
23.4.2014
Er Kwong Wah
Non-Executive Independent
20.12.2002
24.4.2015
Ang Swee Tian
Non-Executive Independent
13.11.2007
22.4.2013
Ma Hong Han
Alternate to Ma Zhi Hong
2.10.2012
NA
Li Man
Alternate to Wang Yu Hang
19.1.2016
NA
Ouyang Chao Mei
Alternate to Liang Yan Feng
8.7.2014
NA
Note: NA - Not Applicable
Corporate Governance and Transparency
37
COSCO Corporation (Singapore) Limited
Annual Report 2015
