Change - Announcement of Appointment::APPOINTMENT OF CHIEF COMMERCIAL OFFICER

Issuer & Securities

Issuer/ Manager
ADDVALUE TECHNOLOGIES LTD
Securities
ADDVALUE TECHNOLOGIES LTD - SG1I67883666 - A31
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
31-Jan-2023 17:34:19
Status
New
Announcement Sub Title
APPOINTMENT OF CHIEF COMMERCIAL OFFICER
Announcement Reference
SG230131OTHRL1OO
Submitted By (Co./ Ind. Name)
DR CHAN KUM LOK COLIN
Designation
EXECUTIVE CHAIRMAN
Description (Please provide a detailed description of the event in the box below)
Appointment of Chief Commercial Officer

Additional Details

Date Of Appointment
01/02/2023
Name Of Person
LAU CHEOK JOO RICHARD
Age
57
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
The promotion of Senior Vice President, Commercial & Marketing to Chief Commercial Officer was recommended by the Nominating and Remuneration Committee ("NRC") of the Company and approved by the Board of Directors based on his qualifications and work experience.

The Board has reviewed the qualifications and experience of Mr Lau is of the view that he can contribute to the growth of the Company (refer to write up on work experience below).
Whether appointment is executive, and if so, the area of responsibility
The appointment is executive. Mr Lau will assist the Chief Executive Officer in the overall commercial and operations of the Company and its subsidiaries which includes developing, establishing and implementing the Group's business development and operating policies and business plans.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Commercial Officer (CCO)
Professional qualifications
Mr. Lau graduated from National University of Singapore with a degree in Business Administration majoring in Marketing. He also holds a Masters in Management of Information Systems from Institut National des Telecommunications in France.
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
Mr. Lau joined the Addvalue Group in January 2022 as Senior Vice President, Commercial & Marketing.

Prior to his appointment, Mr. Lau held senior leadership positions at some of Singapore s leading companies, across a span of 25 years.

He spent 13 years at Certis CISCO Security Pte Ltd, Singapore s largest security company. He started as VP, Business Development of the Group to expand into overseas markets. Later, he headed the Recruitment of security officers in Singapore and promoted to SVP for Group Marketing and Communications and led to various brand transformations including the group s branding.

He also spent 12 years in Singtel Ltd, one of the region s largest telecommunication companies. He held management roles in Singapore and overseas, notably as Head of Singtel Hong Kong Office and later appointed as Director of Sales for Satellite Service.

Over 2022, Richard Lau has proven himself to be effective in his SVP commercial and marketing role:
- He widened the business network for Addvalue by connecting with his business contacts including Singtel, STEE and Tamagawa. Through his introduction Tamagawa became a strategic investor in Addvalue Technologies Ltd.
- He organised and launched various marketing campaigns on Addvalue Innovation and the IDRS. These campaigns have elevated positive image of our company and the IDRS.
- Given his strong interpersonal skills, he was able to forge effective working relationships both externally and internally. He created strong rapports within relatively short time with key stakeholders in Inmarsat, Capella Space, Loft Orbital and others in the new space industry. In particular, his connection with the key management in Tamagawa will help our company open new business opportunities in the Japan market and forge mutually beneficial relationships.
Equally important is he knows how to rally our staff around to get things done.
- He has developed a keen understanding in the challenges of the company and is developing the business plan to scale our business for FY2024.
Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6))
No
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)
Senior Vice President, Commercial & Marketing at Addvalue Innovation Pte Ltd
Senior Vice President, Group Marketing and Communications at Certis CISCO Security Pte Ltd
Present
Senior Vice President, Commercial & Marketing at Addvalue Innovation Pte 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?
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
Not applicable. This pertains to the appointment of CCO.
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)
Not applicable. This pertains to the appointment of CCO.