Change - Announcement of Appointment::Expansion of Executive Chairman's role to assume position of Group Chief Executive Officer

Issuer & Securities

Issuer/ Manager
OUE LIMITED
Securities
OUE LIMITED - SG2B80958517 - LJ3
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
31-Dec-2019 17:32:42
Status
New
Announcement Sub Title
Expansion of Executive Chairman's role to assume position of Group Chief Executive Officer
Announcement Reference
SG191231OTHRU4T4
Submitted By (Co./ Ind. Name)
Jackie Thia
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Dr Stephen Riady, the Executive Chairman of OUE Limited (the "Company", and together with its subsidiaries, the "Group"), as Group Chief Executive Officer (in an expansion of his existing role)

Additional Details

Date Of Appointment
01/01/2020
Name Of Person
Stephen Riady
Age
59
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
30/04/2019
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee of the Company has reviewed the qualifications and experience of Dr Stephen Riady and has recommended to the Board of Directors his appointment as Group Chief Executive Officer.

The Board of Directors of the Company (with Dr Stephen Riady abstaining), having reviewed and considered Dr Stephen Riady's qualifications and experience, has approved his appointment as Group Chief Executive Officer (in an expansion of his existing role).
Whether appointment is executive, and if so, the area of responsibility
Executive. Dr Stephen Riady, who is the Executive Chairman of the Company, will expand his existing role and become the Group Chief Executive Officer with effect from 1 January 2020. As Group Chief Executive Officer, he will have overall responsibility for the management, organisation, operation and development of the Group and all matters arising therefrom.

Dr Stephen Riady has served as an Executive Director of the Company since 30 November 2006, and has deep knowledge of the businesses of the Company. As a visionary with strong commercial acumen, he has played an instrumental role in developing the business, and will continue to provide the Group with exceptional leadership and vision in his enhanced capacity as Executive Chairman and Group Chief Executive Officer.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Group Chief Executive Officer
Professional qualifications
1. Bachelor of Science, Business Administration, University of Southern California, United States of America
2. Master of Business Administration, Golden Gate University, United States of America
3. Honorary Degree of Doctor of Business Administration, Edinburgh Napier University, United Kingdom
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
Dr Stephen Riady is the brother of Mr James Tjahaja Riady, a substantial shareholder of the Company.

Dr Stephen Riady is the father of Mr Brian Riady. Mr Brian Riady was formerly the Chief Executive Officer, Hospitality Division of the Company and has been appointed as Deputy Chief Executive Officer and Non-Independent Executive Director of the Company with effect from 1 January 2020.
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
1. From 30 November 2006 to present: Executive Director, OUE Limited
2. From 9 March 2010 to present: Executive Chairman, OUE Limited
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
Dr Stephen Riady has a deemed interest in:

1. 618,916,410 shares of the Company
2. 2,691,134,928 units in OUE Commercial Real Estate Investment Trust ("OUE C-REIT") (Note 1)
3. 2,859,029,000 shares in OUE Lippo Healthcare Limited
4. 1,000,000 shares in Bowsprit Capital Corporation Limited
5. 19,125,765 shares in Health Kind International Limited
6. USD 2,000,000 registered capital in Health Kind International (Shanghai) Co., Ltd.
7. RMB 1,200,000 registered capital in Shanghai Yi Lin Medical Management Consulting Co., Ltd.
8. RMB 7,476,714 registered capital in Wuxi Lippo Xi Nan Hospital CO., Ltd

Note 1:
OUE C-REIT is not regarded as a subsidiary under the Companies Act, Chapter 50. Notwithstanding the foregoing, since OUE C-REIT is treated as a subsidiary for accounting purposes, for completeness, the Company has elected to include information on Dr Stephen Riady's deemed interest in C-REIT units.
Other Principal Commitments* Including Directorships#
*"Principal Commitments" has the same meaning as defined in the Code
# 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)
See Annexure "A"
Present
See Annexure "A"
(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
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Dr Stephen Riady has been the Executive Director of OUE Limited since 30 November 2006.

Attachments

Annexure_A_Dr_Stephen_Riady.pdf
Total size =33K