- Established in 1974
- Singapore - Korea - China - Malaysia - Vietnam
United Arab Emirates - Azerbaijan - United Kingdom
News| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Nov 15, 2020 21:59 |
| Status | New |
| Announcement Sub Title | Appointment of Acting CEO - Mr Venkatraman Sheshashayee |
| Announcement Reference | SG201115OTHRWIID |
| Submitted By (Co./ Ind. Name) | Kyle Arnold Shaw, Jr |
| Designation | Executive Chairman |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Acting Chief Executive Officer (CEO) - Mr Venkatraman Sheshashayee |
| Additional Details | |
| Date Of Appointment | 16/11/2020 |
| Name Of Person | Venkatraman Sheshashayee |
| Age | 58 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | The Management has proposed Mr Venkatraman Sheshashayee to be appointed as the Company's Acting CEO. He meets the selection criteria and is nominated by the Nominating Committee to the Board for consideration. The Board having considered Mr. Venkatraman Sheshashayee s background, qualifications and working experience, gave its approval for the appointment. |
| Whether appointment is executive, and if so, the area of responsibility | The appointment is executive. Mr Venkatraman Sheshashayee will report directly to the Board of Directors of the Company. He will hold executive and management responsibilities and duties with regard to the operations of the Company and the development and expansion of its business as the Board may reasonably direct. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Acting CEO |
| Professional qualifications | Mr Venkatraman Sheshashayee holds a degree in Marine Engineering from DMET, Calcutta, and a post graduate diploma in management from IIM, Bangalore. |
| Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or any of its principal subsidiaries | No |
| Conflict of interests (including any competing business) | No |
| Working experience and occupation(s) during the past 10 years | Mr Venkatraman Sheshashayee working experience and occupations during the past 10 years include: 1. Radical Advice, Managing Director (May 2018 to date) 2. Miclyn Express Offshore Group, Chief Executive Officer / Executive Director (Oct 2014 Apr 2018) 3. Jaya Holdings Limited, Singapore, Chief Executive Officer / Executive Director (Jan 2012 Jun 2014) 4. The Great Eastern Shipping Company Limited, Managing Director The Greatship Group (Singapore) (Jul 2008 Dec 2011) |
| Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6)) | Yes |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| # These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8). | |
| Past (for the last 5 years) | 1. IndAust Maritime Independent Director - continuing (in process of resigning from the Board), since May 2018 2. Allianz Middle East Board Advisor resigned, Mar 2020 Sep 2020 3. ShipsKart Global Non Executive Director continuing, since Sep 2020 4. Sportskingdom International Independent Director continuing, since Oct 2019 5. Radical Advice Pte Ltd Managing Director continuing, since May 2018 |
| Present | 1. IndAust Maritime In process of resigning from the Board 2. ShipsKart Global Non Executive Director 3. Sportskingdom Intl Independent Director 4. Radical Advice Pte Ltd Managing Director |
| (a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner? | No |
| (b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency? | No |
| (c) Whether there is any unsatisfied judgment against him? | No |
| (d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose? | No |
| (e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach? | No |
| (f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part? | No |
| (g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust? | No |
| (h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust? | No |
| (i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| (j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :- | |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | No |
| (ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No |
| (iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No |
| (iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | No |
| (k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | No |
| Any prior experience as a director of an issuer listed on the Exchange? | No |
| If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange | Not applicable. This is appointment of Acting CEO. |
| Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable) | Not applicable. |