|Lim Ah Doo|
SINGAPORE — Lim Ah Doo has been appointed to Olam’s board of directors as independent non-executive director and chairman-designate, effective Nov. 1. Kwa Chong Seng will step down from the board as independent non-executive director and chairman-designate on Dec. 31.
“Ah Doo has extensive experience in banking, natural resources, infrastructure development and emerging markets from both banker and operator standpoints,” Kwa said. “His deep knowledge, insights, and leadership will undoubtedly benefit Olam and its Board. The Board and I are pleased to have Ah Doo on board to lead Olam through its next phase of growth.”
Lim had an 18-year banking career at Morgan Grenfell, which included being the chairman of Morgan Grenfell (Asia) Limited from 1993-95. He also chaired the Singapore Investment Banking Association in 1994. From 2003-08, he was president and then vice-chairman of the RGE Group, a global resource group. Lim was previously an independent director at EDB Investments and an independent commissioner and chairman of the Audit Committee of PT Indosat (Indonesia).
“I am very pleased and honored to join the Olam Board,” Lim said. “Under Chong Seng’s stewardship, the company consolidated its leadership position in the agri-sector and realigned its shareholders base to more long-term shareholders. I am looking forward to work with Chong Seng during the transition period and with my new colleagues on the board to guide the company on its next phase of development.”
Lim currently chairs the Board of Singapore Technologies Marine Ltd., a subsidiary of the main-board listed Singapore Technologies Engineering Ltd., and is an independent director of Singapore Technologies Engineering Ltd. He sits on the Board of SembCorp Marine Ltd. as independent director and chairman of its Risk Committee and Special Committee, and is also a lead independent director and Audit Committee chairman of ARA-CWT Management (Cache) Limited, the manager of Cache Logistics Trust.
“On behalf of the board and management team, I would like to welcome Ah Doo as our chairman-designate and look forward to working with him to effectively steward Olam in its next phase of growth,” said Sunny Verghese, Olam’s co-founder and chief executive officer. “Ah Doo’s experience and insights in both banking and the resources sector would be directly relevant and useful in Olam’s development.”
Olam International is an agribusiness that operates across the value chain in 70 countries, supplying various products across 16 platforms to over 16,200 customers worldwide. From a direct sourcing and processing presence in most major producing countries.