KIT trustee-manager director to step down on Apr 15

[SINGAPORE] The manager of Keppel Infrastructure Trust (KIT) announced that non-executive, independent director Mark Yeo will step down from his position immediately after its upcoming annual general meeting (AGM) on Apr 15.

Yeo, 62, will retire from his role at KIT’s trustee-manager Keppel Infrastructure Fund Management, nearly ten years since his appointment to the position in August 2015.

He will concurrently step down as the chairman of its audit and risk committee, and as a member of the nomination and remuneration committee.

The move aims to facilitate succession planning, said the manager in a Friday (Mar 28) bourse filing.

Non-executive independent director Adrian Chan, 60, will be appointed as chairman of the audit and risk committee upon Yeo’s retirement.

Chan is currently senior partner and head of the corporate department at law firm Lee & Lee.

Units of KIT were trading up 1.2 per cent or S$0.005 at S$0.425 as at Friday 9.17 am, after the announcement.