Change - Announcement of Appointment::Appointment of Non-Executive Director

Issuer & Securities

Issuer/ Manager
OLAM INTERNATIONAL LIMITED
Securities
OLAM INTERNATIONAL LIMITED - SG1Q75923504 - O32
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
26-Apr-2017 17:23:47
Status
New
Announcement Sub Title
Appointment of Non-Executive Director
Announcement Reference
SG170426OTHRN6S2
Submitted By (Co./ Ind. Name)
Neelamani Muthukumar
Designation
Group Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Mitsumasa Icho as a Non-Executive Director.

Additional Details

Date Of Appointment
01/05/2017
Name Of Person
Mitsumasa Icho
Age
57
Country Of Principal Residence
Japan
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Mr. Mitsumasa Icho is nominated by Mitsubishi Corporation ("MC") to replace Mr. Katsuhiro Ito who will step down as a Non-Executive Director of the Company with effect from 1 May 2017. Mr. Icho is currently the Senior Vice President for Risk Management in MC and has held several senior level roles in MC for the last 35 years. The Governance & Nomination Committee ("GNC") reviewed the experience, skill set, qualification and the quality of the proposed nomination by MC. The GNC opined that the extensive experience of Mr. Icho from the various key roles he has held in MC will add to the optimal mix of expertise and experience of the Board. The Board concurred with the recommendation of the GNC.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Director and Member of the Risk, Capital & Investment and Human Resource & Compensation Committees.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
Mr. Mitsumasa Icho is currently Senior Vice President of Mitsubishi Corporation's Risk Management function. He has been with the Mitsubishi Group since 1982 and has held senior positions within the Group in Houston and New York as well as other key Group functional roles in Finance, Tax and Administration. He was the Executive Vice President of Mitsubishi Motors North America, Inc. from 2006 to 2008 and subsequently Mitsubishi Motors Corporation from 2008 to 2012. Prior to assuming his current role, Mr. Icho was appointed General Manager of Mitsubishi Corporation's Machinery Group Administration Department from 2012 to 2014. He was promoted to General Manager of Risk Management Department which is the advisory organization for the President office from 2014. He holds a Bachelor of law from the University of Tokyo.
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)
Director, Mitsubishi Corporation Financial & Management Services (Japan) Ltd.
Present
Nil
(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
No
(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?
No
(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?
No
Any prior experience as a director of a listed company?
No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
Mr. Mitsumasa Icho will be briefed on the duties and roles of a director in a listed company upon his appointment. Ongoing trainings, seminars and conference will also be made available to directors to grow their experience in such directorship.