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Former OCBC CEO Samuel Tsien appointed as new Jardine C&C independent chairman

Former OCBC CEO Samuel Tsien appointed as new Jardine C&C independent chairman

By Swedan Margen

Fashion

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.

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Hong Kong’s aim is for its Hang Seng Index (above) to represent the economy, while the STI is more a benchmark for the market.
Arafura Surya Alam and Mulia Bumi Persada will become subsidiaries of Jardine Cycle & Carriage group.

Shares of Jardine C&C closed 0.8 per cent or S$0.24 higher at S$28.74 on Wednesday, before the announcement.

Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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Former OCBC CEO Samuel Tsien appointed as new Jardine C&C independent chairman | Grazia British