Cordlife ID Teo Tong Kooi steps down; new ID appointed

CORDLIFE Group’s independent director Dr Teo Tong Kooi stepped down from his role at the embattled cord-blood bank on Wednesday (Feb 19).

He relinquished the role to “focus on other commitments”, the company said. Dr Teo, 68, was appointed an independent director on May 14, 2024.

The company also announced that it had appointed Yuen Wai as an independent director with effect from Wednesday. In addition, she was named a member of the audit and risk committee, as well as the remuneration committee.

The 49-year-old is currently a consultant at Preeminent Medical Centre, and principally based in Canada.

Cordlife announced other board changes as well.

Independent directors Gao Xiang and Sim Sze Kuan were appointed as chairman of the nominating committee and chairman of the remuneration committee, respectively.

Non-independent non-executive chairman Zhai Lingyun was also appointed as a member of the nominating committee.

Meanwhile, group executive director Chen Xiaoling relinquished her role as a member of both the nominating and remuneration committees.

Shares of Cordlife ended Wednesday flat at S$0.152, before the board reconstitution was announced.

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