[SINGAPORE] Jardine Cycle & Carriage has appointed former OCBC group chief executive officer Samuel Tsien as its new independent chairman, effective Nov 11.
The 71-year-old, who is currently a lead independent director at Jardine C&C, will succeed chairman John Witt, the company said in a bourse filing on Wednesday (Oct 15)
Witt, who is 61-years-old, announced his retirement in May this year.
Tsien was executive director at OCBC until his retirement from office in 2021. He is currently a director of Singapore Exchange and Mapletree Investments.
He will be the first independent chairman of Jardine C&C.
Jardine C&C is the investment holding company of Hong Kong-based conglomerate Jardine Matheson Group in South-east Asia.
Shares of Jardine C&C closed 0.8 per cent or S$0.24 higher at S$28.74 on Wednesday, before the announcement.
