Date: March 28, 2016
Today, together with Chairman, Audit Committee of SIAS, Mr. Ang Hao Yao, I’ve met with the Chairman of Cordlife, Dr. Ho Choon Hou and Vice Chairman & Lead Independent Director Mr. Ho Sheng, to discuss the concerns of shareholders of Cordlife over the sudden resignation of the CEO, Mr. Jeremy Yee on 21st March 2016.
SIAS enquired about the reasons for CEO’s resignation. We were briefed that he has been with the company for 13 years and that the board and Mr. Jeremy Yee parted amicably and the board appreciates his contributions to Cordlife during his tenure. Further, that the next phase of Cordlife will require a different leadership that will meet the aspirations of all the shareholders and give credit to the platform that the team in Cordlife has already built. The board wants the next phase of development to meet the sustainable growth levels that will satisfy the expectations of all stakeholders and fulfill the potential of the company.
SIAS was advised that the board is very optimistic of finding a new suitable CEO to take the company to the next phase and the board would like all shareholders to give their support.
At the request of SIAS, the board agreed to meet the shareholders at a dialogue session to address all concerns of shareholders arising from the resignation of the CEO to be organized by SIAS. The date and venue of the dialogue session will be announced shortly.
In the meantime, SIAS awaits the expeditious appointment of the new CEO and calls on all shareholders to support the company’s initiatives to ensure the success of the company moving forward.
David Gerald
President & CEO
Securities Investors Association (Singapore)
