From a shareholder’s perspective, there are potential concerns about whether such high-ranking civil servants have enough time to handle boardroom matters too
APPOINTMENTS and departures of directors at listed companies are a regular occurrence but a recent announcement at offshore and marine (O&M) player Seatrium caught the eye for having a permanent secretary on its board.
This announcement on Jun 10 said that Lai Chung Han, one of Seatrium’s non-executive independent directors, had resigned from his position, effective Jun 30. Seatrium said that he had decided to step down ahead of his new appointment as permanent secretary (development) at the Ministry of Finance on Jul 1.
Lai was the permanent secretary at the Ministry of Education when the announcement was made.
