SINGAPORE (THE BUSINESS TIMES) – Shares of Creative Technology jumped by 27 cents, almost 13 per cent, to $2.35 per share on Tuesday (Nov 16) after the home-grown electronics company said that it has appointed former foreign minister George Yeo as an independent non-executive director.
“With his extensive knowledge and experience in international affairs and leadership roles, Mr Yeo will be a valuable addition to the Creative board and his guidance and support will be invaluable to Creative,” chief executive Sim Wong Hoo said in a statement on Monday.
“Creative will benefit from his perspectives and insights as we move forward to meet the challenges in these difficult and uncertain times,” he added.
Mr Yeo, whose role took effect on Monday, has more than 40 years of experience in both the public and private sectors, the mainboard-listed company noted.
The 67-year-old has also been an independent non-executive director at Hong Kong-listed AIA Group since 2012 and Nasdaq-listed Pinduoduo since 2018.
Mr Yeo began his career in the Singapore Armed Forces before entering politics in 1988, taking on various portfolios, including in the ministries of Finance, Information and the Arts, Health and Trade and Industry.
He served as Singapore’s foreign affairs minister from August 2004 to May 2011, until his constituency, Aljunied GRC, was taken over by the opposition Workers’ Party.
He was most recently senior adviser to investment holding company Kuok Group, from June 2019 to May last year.
From August 2012 to May 2019, Mr Yeo was chairman of Hong Kong-headquartered Kerry Logistics Network. During this period, he was also a non-executive director for Wilmar International, from November 2014 to December 2017.