Investor Presentaiton
Two years later
In April 2008, Mrs Lee Suet-fern, an independent director, resigned
from CAO's board. She also chaired its audit and disclosure
committees. Her letter of resignation stated:
"... it has become, as a result of the company's approach to
information flow and the management of decision making, review
and oversight, increasingly difficult for me to properly discharge my
duties as an independent director of the company".
In November 2008, CAO's independent chairman, Lim Jit Poh,
also resigned. However, it appeared that his departure was more
amicable. He said:
➤ "Now that CAO has successfully rebuilt its business with proper
governance structure and management team in place, my work at
CAO is completed and it is timely for me to step down as CAO enters
a new phase of development. It has been gratifying to see CAO
emerge from the restructuring successfully and is now well positioned
to execute its corporate strategy."
ACGA Presentation
HKCCA, May 6, 2009
10
ACGAView entire presentation