Change - Announcement of Appointment::Announcement of Appointment of Group Chief Executive Officer-Designate

Issuer & Securities

Issuer/ Manager
FRASERS CENTREPOINT LIMITED
Securities
FRASERS CENTREPOINT LIMITED - SG2G52000004 - TQ5
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
06-Jun-2016 07:18:21
Status
New
Announcement Sub Title
Announcement of Appointment of Group Chief Executive Officer-Designate
Announcement Reference
SG160606OTHRLBKV
Submitted By (Co./ Ind. Name)
Piya Treruangrachada
Designation
Company Secretary
Effective Date and Time of the event
06/06/2016 08:00:00
Description (Please provide a detailed description of the event in the box below)
Appointment of Group Chief Executive Officer-Designate.

Additional Details

Date Of Appointment
06/06/2016
Name Of Person
Panote Sirivadhanabhakdi
Age
38
Country Of Principal Residence
Thailand
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Frasers Centrepoint Limited (the "Company") announced on 30 September 2015 that the service agreement with its Group Chief Executive Officer, Mr Lim Ee Seng, had been extended for a one year term from 1 October 2015 to 30 September 2016. The Company had undertaken a succession planning process to identify a successor for Mr Lim and had reviewed and/or interviewed various candidates from within and outside the Group for the role.

As part of the succession planning discussions, the independent directors had put forward Mr Panote Sirivadhanabhakdi for consideration for the role. Mr Panote has been a Non-Executive and Non-Independent Director of the Company since 8 March 2013. He is also a member of the Company's Board Executive Committee, Risk Management Committee and Remuneration Committee.

The Nominating Committee ("NC") has reviewed the qualifications and experience of Mr Panote Sirivadhanabhakdi. Taking into account his qualifications and experience and familiarity with the Group's business, the NC has recommended to the Board Mr Panote's appointment as the Group Chief Executive Officer. The Board (with the non-independent directors abstaining) has accepted the recommendation of the NC and approved his appointment with effect from 1 October 2016.

After his appointment as Group Chief Executive Officer, Mr Panote will continue as an Executive Director of FCL and will step down from the Remuneration Committee of FCL.
Whether appointment is executive, and if so, the area of responsibility
The Group Chief Executive Officer is an executive function and has the overall responsibility for driving the Group's growth strategies with the aim of delivering sustainable returns from the business.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Group Chief Executive Officer-Designate; Mr Panote Sirivadhanabhakdi's appointment as Group Chief Executive Officer will take effect from 1 Oct. 2016.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Panote Sirivadhanabhakdi is the son of Mr Charoen Sirivadhanabhakdi and Khunying Wanna Sirivadhanabhakdi, who are directors and controlling shareholders of the Company. Mr Chotiphat Bijananda, a director of the Company, is married to a sister of Mr Panote.
Conflict of interests (including any competing business)
Please see attachments.

Mr Panote Sirivadhanabhakdi is currently the Chief Executive Officer of Univentures Public Company Limited, which is listed on the Stock Exchange of Thailand and is involved in real estate and property development in Thailand. Each of Univentures Public Company Limited and the Company is a controlling shareholder of Golden Land Property Development Public Company Limited, another company listed on the Stock Exchange of Thailand and which is involved in property development, property management and property advisory services, in Thailand. Mr Panote is also a non-executive director of Golden Land Property Development Public Company Limited.

Mr Panote will relinquish his current role as Chief Executive Officer of Univentures Public Company Limited, Thailand prior to his appointment as Group Chief Executive Officer. He will continue to be a non-executive director of Univentures Public Company Limited.
Working experience and occupation(s) during the past 10 years
Please see Attachment 1.
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)
Please see Attachment 2.
Present
Please see Attachment 2.
(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?
Yes
If Yes, Please provide details of prior experience
Mr Panote Sirivadhanabhakdi has been a director of Fraser and Neave, Limited and is currently a director of Frasers Centrepoint Limited and Thai Beverage Public Company Limited.

Attachments

Attachment_1_CV.pdf
Attachment_2_ List of Directorships.pdf
Total size =118K