Council For Board Diversity Welcomes Seven New Council Members

The Ministry for Social and Family Development (MSF) announced the addition of seven new members to the Council for Board Diversity (CBD) in 2021. The members will serve a two-year term. The CBD was established by MSF to promote a sustained increase in the number of women on boards of listed companies, statutory boards, and Institutions of a Public Character (IPCs) in Singapore (see Annex A for more information). This change refreshes a third of the Council, providing the opportunity to tap on fresh perspectives and valuable insights. The full list of 21 members is in Annex B.

2 The new members are¹

• Dr Gerard Ee (Chairman, Charity Council, and Agency for Integrated Care; and other organisations)
• Ms Euleen Goh (Chairman, SATS Ltd, and Singapore Institute of Management; Deputy Chairman, Royal Dutch Shell plc; and other directorships)
• Mr Lim Hock Yu (Chief Executive Director, People's Association)
• Mr Lim Jit Poh (Chairman, ComfortDelGro Corporation, VICOM, and SBS Transit)
• Mr Jonathan Ng (Executive Director, Far East Organisation)
• Mr Robert Yap (Chairman, Sunseap Group; Independent Director, IMDA, Jurong Port Holdings, and NTUC FairPrice; SMU Distinguished Fellow; and other directorships)
• Ms Yeo Wan Ling (Director, U SME, and Director, Women & Family Unit, National Trades Union Congress; Member of Parliament, Pasir Ris-Punggol GRC)

3 President Halimah Yacob, who is Patron of the Council, said, “The representation of women on boards and in leadership is important for organisations in the private, people and public sectors. The pandemic has highlighted the importance of diversity in leadership. Having people with varied experiences, skillsets and perspectives enables organisations to be more nimble in seeking out opportunities and alert to potential risks. Organisations with few or no women directors should therefore consider embracing diversity and its benefits. Those that cast the net wide for the best talents and experience to contribute to their boards will position their organisations well for long-term success.”

4 Mr Masagos Zulkifli, Minister for Social and Family Development, said, “Our Singapore women have progressed significantly in many areas over the past decades. However, more can be done to increase the representation of women in leadership positions. Women on boards is widely tracked, and having qualified women directors is a measure of the quality of governance and corporate culture. Therefore, the community, businesses and employers can and should do their part to support women and pave the way for them to take on leadership positions.”

5 Mrs Mildred Tan, Co-Chair, CBD and Chairman, Tote Board Singapore, said, “We are glad that seven distinguished leaders from the private, public and people sectors have joined the Council for Board Diversity. Each of them brings to the Council different experiences and their own areas of influence. We look forward to working with them to improve diversity on boards in Singapore, in order to create stronger businesses and organisations that thrive long into the future.”

6 Mr Loh Boon Chye, Co-Chair, CBD and CEO, Singapore Exchange, said, “We are very appreciative of the efforts and contributions of the members who have recently completed their term in December 2020. They have been very willing to drive difficult conversations with key board decision makers on the benefits of having diverse boards, including gender diversity. They have also provided valuable inputs which has helped shape the direction for the Council. We hope to continue to work with them as partners, as they have shown to be invaluable supporters of board diversity for stronger organisations.”

7 The following members² have completed their term on 31 December 2020

• Mr Simon Israel (Chair, Singapore Post Limited) – member since 2014
• Mr Teo Siong Seng (Immediate Past Chair, Singapore Business Federation and Executive Chairman / Managing Director of Pacific International Lines Pte Ltd) – member since 2014
• Mr Sherman Kwek (Group Chief Executive Officer, City Developments Limited) – member since 2017
• Mr Edmund Cheng (Chairman, Singapore Art Museum and Deputy Chairman of Wing Tai Holdings Limited, among others) – member since 2019
• Dr June Goh (Immediate Past President, Singapore Council of Women’s Organisations) – member since 2019
• Ms Mary Liew (President, National Trades Union Congress) – member since 2019

¹Listed by name first, then last name.
²Listed by length of tenure, then by last name.

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ANNEX A ABOUT THE COUNCIL FOR BOARD DIVERSITY

The Council for Board Diversity (CBD) was established by the Ministry of Social & Family Development (MSF) in 2019 under the patronage of President Halimah Yacob. Its objective is to lead the charge to promote a sustained increase of women on boards of listed companies, statutory boards, and Institutions of a Public Character (IPC) in Singapore. CBD succeeded the Diversity Action Committee which was started in 2014 to focus on increasing women’s participation on boards of SGX-listed companies.

Co-Chaired by Mr Loh Boon Chye, CEO of Singapore Exchange and Mrs Mildred Tan, Chairman of Tote Board Singapore, the 21-member Council comprises eminent corporate leaders and professionals with a diverse and strong slate of management and board expertise across the business, people, and public sectors.

For more information, refer to www.councilforboarddiversity.sg.

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ANNEX B COUNCIL FOR BOARD DIVERSITY MEMBERS FROM JANUARY 2021


³Listed by last name.