Change - Announcement of Appointment :: Re-designation of Non-Independent Non-Executive Director to Group Executive Director
BackJul 17, 2024
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Jul 17, 2024 21:18 |
| Status | New |
| Announcement Sub Title | Re-designation of Non-Independent Non-Executive Director to Group Executive Director |
| Announcement Reference | SG240717OTHRSIQ4 |
| Submitted By (Co./ Ind. Name) | Goh Xun Er |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Re-designation of Non-Independent Non-Executive Director to Group Executive Director and Changes to the Composition of the Board |
| Additional Details | |
| Date Of Appointment | 17/07/2024 |
| Name Of Person | Chen Xiaoling |
| Age | 33 |
| Country Of Principal Residence | Singapore |
| Date of last re-appointment (if applicable) | 14/05/2024 |
| The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process) | Ms. Chen Xiaoling ("Ms. Chen") is currently a Non-Independent Non-Executive Director of the Company. Ms. Chen is a director nominated by Nanjing Xinjiekou Department Store Co., Ltd. ("NJXJK"), a substantial shareholder of the Company. Ms. Chen is also currently the Senior Associate President and Deputy General Manager of Strategy Department in Immune-Therapy & Stem Cell Business Unit of Nanjing Xinjiekou Department Store Co., Ltd., a substantial shareholder of the Company. The Board having reviewed and considered Ms. Chen's qualifications and experience, concurred with the recommendation of the Nominating Committee ("NC") and approved the re-designation of Ms. Chen as the Group Executive Director of the Company. Ms. Chen has abstained from all deliberations and decisions of the Board and the NC in respect of re-designation. |
| Whether appointment is executive, and if so, the area of responsibility | Group Executive Director |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Group Executive Director Member of the NC Member of the Remuneration Committee |
| Professional qualifications | 1. Master's Degree, University of Bath 2. Bachelor of English Literature and Culture, Southwestern University of Science and Technology |
| Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or any of its principal subsidiaries | Yes |
| Conflict of interests (including any competing business) | No |
| Working experience and occupation(s) during the past 10 years | 2017 to current - Senior Associate President & Deputy General Manager of Strategy Department in Immune-therapy and Stem Cell Business Unit of Nanjing Xinjiekou Department Store Co., Ltd. 2015 to 2017 - Senior Director, International Affairs Department, Sanpower Group 2014 to 2015 - Project Manager, Sino-bridge, London |
| Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6)) | Yes |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| # These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8). | |
| Past (for the last 5 years) | Nil |
| Present | 1. Qilu Stem Cell Engineering Co. Ltd. 2. Find Biotech 3. Dendreon Pharmaceuticals LLC 4. Nanjing Xinjiekou Department Store Co. Ltd. |
| (a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner? | No |
| (b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency? | No |
| (c) Whether there is any unsatisfied judgment against him? | No |
| (d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose? | No |
| (e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach? | No |
| (f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part? | No |
| (g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust? | No |
| (h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust? | No |
| (i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| (j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :- | |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | Yes |
| If Yes, Please provide full details | On 19 March 2024, CGL has received a notice from the Commercial Affairs Department ("CAD") and the Monetary Authority of Singapore ("MAS") pursuant to Section 20 of the Criminal Procedure Code 2010 of Singapore, requiring the provision of certain documents and information in connection with investigations by the CAD into an offence under the Securities and Futures Act 2001 of Singapore. Ms. Chen has attended interviews at the offices of CAD in connection with the investigations and has been released on bail. As at the date of this announcement, she has not been charged or convicted of any offence. |
| (ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No |
| (iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No |
| (iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | Yes |
| If Yes, Please provide full details | On 19 March 2024, CGL has received a notice from the Commercial Affairs Department ("CAD") and the Monetary Authority of Singapore ("MAS") pursuant to Section 20 of the Criminal Procedure Code 2010 of Singapore, requiring the provision of certain documents and information in connection with investigations by the CAD into an offence under the Securities and Futures Act 2001 of Singapore. Ms. Chen has attended interviews at the offices of CAD in connection with the investigations and has been released on bail. As at the date of this announcement, she has not been charged or convicted of any offence. |
| (k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | Yes |
| If Yes, Please provide full details | On 19 March 2024, CGL has received a notice from the Commercial Affairs Department ("CAD") and the Monetary Authority of Singapore ("MAS") pursuant to Section 20 of the Criminal Procedure Code 2010 of Singapore, requiring the provision of certain documents and information in connection with investigations by the CAD into an offence under the Securities and Futures Act 2001 of Singapore. Ms. Chen has attended interviews at the offices of CAD in connection with the investigations and has been released on bail. As at the date of this announcement, she has not been charged or convicted of any offence. |
| Any prior experience as a director of an issuer listed on the Exchange? | Yes |
| If Yes, Please provide details of prior experience | Ms. Chen has been a Non-Executive Non-Independent Director of the Company prior to her re-designation as Group Executive Director. |