Ultragreen.ai appoints two new independent directors; Hsieh Fu Hua steps down as independent director

Ultragreen.ai, a biotech company based in Singapore, recently announced several changes to its board of directors on Friday, October 2nd. The most significant change is the departure of Lead Independent Director Hsieh Fu Hua, who stepped down to focus on other commitments. Hsieh had previously taken on roles such as deputy chairman at CapitaLand Investment and chairmanship at the National Wage Council in August.

To fill Hsieh's vacancy, Nicky Tan, an existing independent director, has been appointed as the new Lead Independent Director. Tan will continue to serve as the chairman of the nominating committee and a member of the audit, risk, and remuneration committees.

Chairman Kwa Chong Seng expressed his gratitude to Hsieh for the guidance and commitment he provided during his tenure. In addition to Tan's appointment, Ultragreen.ai also welcomed Sonia Gan Shiying and Keoy Soo Earn as new independent directors. Gan, 41, is an investment director at Vertex Ventures with 18 years of experience in investment management and corporate finance. Koey, 57, previously worked at Deloitte and held the position of private equity leader.

After these changes, Ultragreen.ai's board now consists of seven directors, five of whom are independent. Chairman Kwa stated that the board will work closely with CEO Ravi Sajwan and the management team to advance the company's long-term strategy. Following Hsieh's departure, Ultragreen.ai's shares dropped by 0.9%, or US$0.005, to US$0.565 on Friday.