Change - Announcement of Appointment::Appointment of Non-Executive Director - Mr. Norio Saigusa

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
20-May-2020 17:53:04
Status
New
Announcement Sub Title
Appointment of Non-Executive Director - Mr. Norio Saigusa
Announcement Reference
SG200520OTHRRGVE
Submitted By (Co./ Ind. Name)
Michelle Tanya Kwek
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr. Norio Saigusa as Non-Executive Director.

Additional Details

Date Of Appointment
20/05/2020
Name Of Person
Norio Saigusa
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. Norio Saigusa is nominated by Mitsubishi Corporation ("MC") to replace Mr. Yutaka Kyoya who had retired as a Non-Executive Director of the Company at the conclusion of Olam's Annual General Meeting held on 20 May 2020. Mr. Saigusa is currently the Executive Vice President, Group CEO, Food Industry Group of 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. Saigusa 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
Member, BRC
Member, CRSC
Member, NRC
Professional qualifications
Degree in Political Science and Economics, Waseda University, Tokyo
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
As described above. Mitsubishi Corporation is a controlling shareholder of the Company.
Conflict of interests (including any competing business)
Nil.
Working experience and occupation(s) during the past 10 years
Mr. Norio Saigusa is currently the Executive Vice President, Group CEO, Food Industry Group of Mitsubishi Corporation. He is concurrently a Non-Executive Director of Thai Union Group Public Company Limited, a global seafood leader involved in the manufacture, import and distribution of seafood-based food products based in Thailand. He joined Mitsubishi Corporation in 1985 and has since been engaged in the food business. He has played various managerial roles in Mitsubishi Corporation in Tokyo as well as in its overseas offices, including Germany and Thailand. Prior to his current position, he was the President of Mitsubishi Company (Thailand), Ltd. and Thai-MC Company Limited. in 2017 after he was promoted to the Division COO of Living Essential Resources Division in 2016.
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
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)
Mitsubishi Corporation LT (Thailand) Co., Ltd. (President)
Thai Metal Processing Co., Ltd.
Tri Petch Isuzu Sales Co., Ltd.
Tri Petch Isuzu Leasing Co., Ltd.
IVICT (Thailand) Company Limited.
Matsutani Chemical Industry Co., Ltd.
Mitsubishi Shoji Construction Materials Corporation
MCC Development Corporation
Mitsubishi Cement Corporation
MC Agri Alliance Ltd.
Thai Kurabo Co., Ltd
Thai Bridgestone Co., Ltd.
Bridgestone Sales (Thailand) Co., Ltd.
Present
Mitsubishi Corporation (Executive Vice President, Group CEO, Food Industry Group)
Thai Union Group Public Company Limited (Director)
(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?
No
If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange
No
Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable)
Mr. Norio Saigusa has had extensive professional experience including being Board Member of companies listed on the Stock Exchange of Thailand, namely Thai Union Group Public Company Limited. The Governance and Nomination Committee found Mr. Norio Saigusa's experience as relevant and comparable to the experience of a person who has served as a director of an issuer listed on the Singapore Exchange.

As part of the new director induction program, Mr. Norio Saigusa will also be briefed on the local legal, regulatory and governance requirements as well as the duties of director.