Philip Yeo Step Down Cdl Director
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Philip Yeo Liat Kok, who currently serves as a non-independent and non-executive director of real estate company City Developments, has announced his resignation from the board. Yeo will officially step down on July 31, marking the end of his tenure.
Yeo, a 78-year-old former top civil servant, has been a member of the board since May 2009. During his time as a director, Yeo has been a close ally of executive chairman Kwek Leng Beng, particularly during the recent disputes within the board.
In response to Yeo’s resignation, CDL released a filing to the stock exchange expressing their gratitude for his 16 years of dedicated service and valuable contributions. The company also acknowledged Yeo’s significant role as a director.
Some of Yeo’s notable achievements during his time on the board include CDL’s off-market purchase of preference shares, where he played a key role in the negotiation process. This move was followed by an offer of 78 cents per share, which was reported in a separate article on The Edge Singapore.
As Yeo prepares to step down, the board and management of CDL would like to extend their appreciation for his years of service and wish him well in his future endeavors. This marks the end of an era for CDL as they move forward with a new board composition.