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Anglo-Eastern Plantations PLC on Friday said Chair Lim Siew Kim will retire after 29 years on the board.
Anglo-Eastern Plantations is a producer of palm oil and rubber across Indonesia and Malaysia.
Kim has been chair of the company for the past 11 years. She will remain a shareholder through Genton International Ltd.
Anglo-Eastern Plantations said: ‘After achieving a record profit last year, she is confident that the group is in good hands to continue to grow and expand to enhance shareholders' value.’
Independent Non-Executive Director Jonathan Law will succeed Kim as chair.
Law has held the position of independent non-executive director for the last nine years and will continue as a non-independent non-executive director from Friday onwards.
The company added that it is ‘actively seeking’ to appoint two non-executive directors, one of which will be an independent position.
Shares in Anglo-Eastern Plantations were up 0.4% to 790.80 pence each in London on Friday afternoon.
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