Ezra Holdings Limited will make a number of changes to its Board to better align the experience of its Directors to the Group’s growth aspirations and steer its global strategy forward.
The Group’s founder Mr Lee Kian Soo, a well-known and respected figure in the offshore oil & gas industry, will retire as Executive Chairman at Ezra’s upcoming Annual General Meeting (AGM) in December. However, he will remain as a Non-Executive, Non-Independent Director allowing the Board to continue tapping into his deep industry experience and knowledge.
Succeeding Mr Lee as Non-Executive Chairman will be Singapore corporate veteran Mr Koh Poh Tiong, currently Vice-Chairman and a Non-Executive Director of Ezra. In addition, Mr Koh will be appointed as Senior Advisor with effect from 1 September 2012. Mr Koh has over 42 years of corporate experience and was instrumental in transforming Asia Pacific Breweries Limited (APB) into one of the top brewery groups in Asia Pacific.
Group founder Mr Lee said, “After 20 years at the helm, I feel gratified that my team’s efforts have set Ezra on a firm growth path. I believe that Mr Koh, with his vast corporate experience, is the right man to bring the company forward at this point of the company’s rapid expansion. He was one of the key people in APB who transformed the company and Tiger Beer into a regional brand, and his reputation for achieving sustainable growth for shareholders is well known. Ezra will certainly be in good hands.”
Mr Koh, Chairman-designate, said: “I would like to take this opportunity to thank our Chairman, Mr Lee, for his foresight and vision in steering Ezra on course to bigger achievements in the offshore oil & gas support services industry. I deeply admire all that Mr Lee has been able to achieve in a short span of time.
“Ezra has the potential to become another home-grown global brand. This is evident in the Group’s global acquisitions. I look forward to working with the Ezra Board and management team to bring that potential to fulfilment.”
Ezra also announced that Mr Wong Bheet Huan, an experienced and highly respected marine engineer, will step down as a Board member to focus on driving the growth of Triyards Holdings Pte. Ltd. (to be renamed Triyards Holdings Limited, or TRIYARDS) as its Chief Executive Officer and Director.
On 24 August 2012, Ezra received a conditional eligibility to list TRIYARDS on the Main Board of the SGX-ST. TRIYARDS is the Group’s fabrication and engineering arm.
Also retiring from Ezra’s Board after eight years is Ms Lee Cheow Ming Doris Damaris.
Mr Lionel Lee, Ezra’s Managing Director, said: “The changes to our Board are a part of the Group’s on-going succession planning, which strengthen us for further growth and reflects our ambition to make our mark as a global brand.
“I would like to thank Mr Lee for his invaluable and immense contributions all these years. We are pleased that he will remain on our Board to share his invaluable and deep industry experience and knowledge as Ezra moves forward to realise its global aspirations.
“I am also deeply grateful to Mr Koh for agreeing to come on board as our Chairman. He is well known for his expansionist thinking, and his depth of corporate experience will certainly help us position for future growth and deliver shareholder value as we develop our global footprint.
“Finally, my sincerest thanks as well to Ms Doris Lee and Mr Wong for their counsel and guidance these past years. I wish them all the best in their future endeavours.”
Press Release, August 27, 2012