The Ministry of Social and Family Development (MSF) announced five new members to the Council for Board Diversity (CBD) in 2023. 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 nearly a third of the Council, providing the opportunity to tap on fresh perspectives and valuable insights. The full list of 17 members is in Annex B.
2. The new members are:
a. Mr Jonathan Eu: Chief Executive Officer and Board Director, Singapore Land Group Limited
b. Ms Elaine Heng: Deputy Group Chief Executive Officer and Chief Executive Officer (Retail Business), FairPrice Group
c. Mr Azriman Mansor:
Group Financial Controller, Times Publishing Limited; Board Member, Yayasan Mendaki; and other directorships
d. Mr Steven Phan: Independent Director, United Overseas Bank and Jardine Cycle and Carriage; and other directorships and committees
e. Dr Ming Tan: Founding Executive Director, Tech for Good Institute and Director, COMO Foundation; and other directorships
3. President Halimah Yacob, who is Patron of the Council, said, “Women on boards is one key aspect of board diversity. This contributes towards organisational outcomes by allowing boards to better understand the perspectives of different stakeholders to make better decisions. CBD’s good work over the past term has resulted in greater representation of women on boards now. I believe that the new members will bring in fresh perspectives to strengthen the board further. When women and men work in partnership across all levels of society, we can build on each other’s strengths and achieve far more together.”
4. Mr Masagos Zulkifli, Minister for Social and Family Development, said, “Singapore has made good progress in the representation of women leadership over the years, including the representation of women on boards. This was one of the action plans in the White Paper on Singapore Women’s Development, and clearly, more can be done. I thank the outgoing members of the Council for Board Diversity, and call on the new members to help inject new momentum into our efforts to increase the representation of women on boards. Let us all continue to encourage organisational cultures that recognise and value the leadership potential of capable women, thus tapping on the full potential of our talent pool in Singapore.”
5. Mrs Mildred Tan, Co-Chair, CBD and Chairman, Tote Board Singapore, said, “We truly appreciate the invaluable contributions of the members who recently completed their term in December 2022. Their willingness to drive sometimes sensitive and difficult conversations with key decision makers at the Board level have been outstanding. Indeed, we have been fortunate to have had an illustrious team of people with deep relevant Board experience at CBD to contribute their views and ideas. We will continue to work closely with them as partners to continue the conversations on futureproofing boards.”
6. Mr Loh Boon Chye, Co-Chair, CBD and CEO, SGX Group, said, “With the global environment becoming more complex than ever before, having a board with diverse skill sets is necessary for an organisation’s resilience and growth. We are confident that our new members, with their wide-ranging experience across the people, public and private sectors, will contribute to CBD’s efforts in partnering organisations to improve board diversity.”
7. MSF thanks the following members1 who have completed their term on 31 December 2022 and have made important contributions to CBD’s work:
a. Ms Goh Swee Chen: Chairman, National Arts Council, and NTU Board of Trustees; Independent Director, CapitaLand, and Singapore Airlines; and other directorships
b. Mr Ong Chong Tee: Chairman, Accounting and Corporate Regulatory Authority
c. Ms Rachel Eng: Managing Partner, Eng and Co. LLC; Board Member, Central Provident Fund Board; and other directorships
d. Dr Gerard Ee: Chairman, Charity Council, and Agency for Integrated Care; and other organisations
e.
Mr Lim Hock Yu: Previously Chief Executive Director, People's Association
f. Mr Jonathan Ng: Executive Director, Far East Organisation; Non-Executive Director, Yeo Hiap Seng Ltd
g. Mr Robert Yap: Chairman, EDPR Sunseap APAC;
Independent Director, IMDA, Jurong Port Holdings, and NTUC FairPrice; SMU Distinguished Fellow; and other directorships
h. Ms Yeo Wan Ling: Director, U SME, and Director, Women & Family Unit, National Trades Union Congress; Member of
Parliament, Pasir Ris-Punggol GRC
ISSUED BY
MINISTRY OF SOCIAL AND FAMILY DEVELOPMENT