2 SPH founding directors to step down - Oct 18, 2004 (BT)
The Straits Times / The Business Times News On SPH
2 SPH founding directors to step down
Oct 18, 2004
The Business Times
TWO founding members of Singapore Press Holdings' board of directors, who have between them served the media group for nearly 50 years, will step down next month.
SPH said yesterday that Michael Fam, 77, and Tang I-Fang, 80, have indicated their desire not to seek re-election at the company's annual general meeting on Dec 6.
Both Mr Fam and Mr Tang have been with the board since SPH was established in August 1984. Before that, Mr Fam was appointed a director of the Straits Times Group in 1974.
The SPH board has been undergoing a renewal process in the last two years with several other senior members having stepped down too. Last year, two other senior directors who have been with the media group's board for over 19 years also stepped down.
Bankers Lee Hee Seng and Wee Cho Yaw - both also in their 70s - had decided not to seek re-election at the last annual general meeting. Earlier, Lim Kim San had also stepped down as executive chairman to take up the post of senior adviser.
As part of the continuing renewal process, SPH appointed Cham Tao Soon as deputy chairman and Willie Cheng Jue Hiang as a director in March. A year earlier, two other younger corporate figures Philip N Pillai and Sum Soon Lim had also joined the board.
SPH chairman Lim Chin Beng said: 'It is with much regret that the SPH directors accept their decision to step down.' Mr Lim, on behalf of the board, also thanked Mr Fam and Mr Tang for their long and distinguished service, adding that 'their unswerving support, invaluable contributions and counsel to the board have served SPH well'.
Currently executive chairman of Fraser & Neave Ltd, Asia Pacific Breweries Ltd and Centrepoint Properties Ltd, Mr Fam is one of the most prominent figures in the Singapore business and government circles and has a distinguished record of public service.
His long list of offices include chairmanship of Singapore Airlines Limited, the Housing & Development Board, Mass Rapid Transit Corporation, and the Council of Nanyang Technological University.
Mr Tang, who is executive chairman of WBL Corporation Ltd and chairman of United Engineers Ltd, also has had a distinguished career in the private and public sectors.
Both Mr Fam and Mr Tang have been voted Businessman of the Year, the former in 1985 and the latter in 1989 in the annual Singapore Business Awards.