REPL::Change - Announcement of Appointment::Appointment of Ma Ming as Chief Executive Officer

Issuer & Securities

Issuer/ Manager
SUNPOWER GROUP LTD.
Securities
SUNPOWER GROUP LTD. - BMG8585U1027 - 5GD
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
19-Aug-2021 18:40:06
Status
Replacement
Announcement Sub Title
Appointment of Ma Ming as Chief Executive Officer
Announcement Reference
SG210813OTHRT5N7
Submitted By (Co./ Ind. Name)
Wang Dao Fu
Designation
Independent Director
Description (Please provide a detailed description of the event in the box below)
Appointment of Ma Ming as Chief Executive Officer

Note: This announcement is to supersede the earlier announcement released on 13 August 2021 to clarify the following disclosure:

(i) An undertaking has been submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) by Mr Ma Ming in his capacity as an Executive Director of the Company when the requirements of the rules was in force.
(ii) Mr Ma Ming has prior experience as a director of an issuer listed on the Exchange.

Additional Details

Date Of Appointment
11/08/2021
Name Of Person
Ma Ming
Age
56
Country Of Principal Residence
China
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
As a co-founder and executive director, Mr. Ma Ming ("Mr Ma") is a seasoned entrepreneur with valuable insights and has made great contributions to the sustainable growth and development of the Group over the decades. The Board of Directors has recommended the appointment of Mr Ma as Chief Executive Officer of the Group, and has approved the appointment effective on 11 August 2021.
Whether appointment is executive, and if so, the area of responsibility
Executive.

Mr. Ma joined Sunpower in 1997 as the Company's cofounder and served as Deputy General Manager. Through the various stages of the Company's development, he was responsible for marketing, sales, production, procurement, finance and investment, among others. He was appointed as Executive Director of the Group in 2004, overseeing finance, investments, mergers & acquisitions, investor relations, and spearheading the work on Sunpower's IPO on the Singapore Exchange.

In 2008, Mr. Ma was entrusted with the responsibility for overall management and operational development of the Group. Mr Ma drove the formulation and implementation of strategic planning and comprehensive budget management for the Group, pushed forward the institutionalisation and refinement of corporate management, and propelled the internationalisation of business and diversification of coverage of industries to attain long-term sustainable development of the Group.

Since the strategic expansion of the Group into the GI Business in 2015, Mr. Ma has led the formulation of the strategic plan and business model and is responsible for the implementation of its long-term objectives. He takes charge of the entire business development cycle including market research and development, project investment and financing, project implementation, development and construction, as well as post-investment operational management. Mr. Ma has led the establishment of professional management systems and teams and has managed the GI Business segment to its current healthy stage of development where it is able to function autonomously within a complete system.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Professional qualifications
Master Degree in Engineering Management
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
No
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
2004 - Present: Executive Director, Sunpower Group Ltd.
2008 - 2015 - Director, General Manager, Jiangsu Sunpower Technology Co., Ltd.
2008 - 2015 - Director, General Manager, Jiangsu Sunpower Machinery Manufacture Co., Ltd
2014 - 2015 - Director, General Manager, Sunpower Technology (Jiangsu) Co., Ltd
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?
Yes
Shareholding Details
Deemed interest - 137,509,737 ordinary shares
# 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)
2004 - Present: Executive Director, Sunpower Group Ltd.
Present
2004 - Present: Executive Director, Sunpower Group 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
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 an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Mr Ma Ming is an Executive Director of Sunpower Group Ltd. since 2004.

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