Corporate News
Formation Of Nomination Committee And Remuneration Committee, Change In Audit Committee Member
The Board of Directors of Willas-Array Electronics (Holdings) Limited (the "Company") is pleased to announce that pursuant to the recommendations of the Code of Corporate Governance issued by the Corporate Governance Committee and the amendments made to the Listing Manual, the Board has on 26 November 2002 formed a Nomination Committee to ensure a formal and transparent process for the appointment and re-election of directors, and a Remuneration Committee to provide a greater degree of objectivity in the setting of remuneration.
The Nomination Committee comprise of the following directors: -
Chairman
1. Mr Wang Kwan Seng Robert (Independent)
Members
2. Mr Jovenal R. Santiago (Independent)
3. Mr Tse Pui Kee Albert (Independent)
4. Mr Leung Chun Wah
The Remuneration Committee comprise of the following directors: -
Chairman
1. Mr Tse Pui Kee Albert (Independent)
Members
2. Mr Jovenal R. Santiago (Independent)
3. Mr Wong Kwan Seng Robert (Independent)
4. Mr Leung Chun Wah
The Committees will also seek independent advice from professional consultants when necessary.
In addition, Mr Leung Chun Wah has also ceased to be a member of the Audit Committee and Mr Tse Pui Kee Albert, an independent Director has been appointed as an Audit Committee Member in place of Mr Leung Chun Wah.
The Audit Committee now comprise of the following directors: -
Chairman
1. Mr Jovenal R. Santiago (Independent)
Member
2. Mr Wong Kwan Seng Robert (Independent)
3. Mr Tse Pui Kee Albert (Independent)
