NutryFarm shareholders seek CEO’s removal as company pivots from durians to data centres
They also asked directors to consider electing Charlie In to the board, and appointing him as CEO.
NutryFarm International shareholders are requesting the removal of chief executive Niu Liming following a company pivot from durian distribution to data centres and artificial intelligence services. This dispute arose after receiving a letter objecting to his proxy votes on Oct 11, which allegedly includes any conflict of interest arising from his arrangement with shareholder Jia Lijie.
The shareholders, who collectively hold at least 10% of NutryFarm's paid-up capital, also seek to elect Charlie In as board member and ask directors to consider appointing him as CEO. Niu, who has been associated with NutryFarm since March 2021 through Raffles Financial Group, has been the company's largest executive director and CEO since December 2022.
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