SINGAPORE – Mr Sam Chong Keen, chairman of the board of Stamford Tyres, has stepped down, with two individuals appointed to new positions on the company’s board of directors.
The mainboard-listed tyre and wheel distributor announced the changes on Nov 1.
Mr Sam will continue as a non-executive, non-independent director of the company and member of the audit and remuneration committees. He was appointed as independent director of the company in 1994 and non-executive chairman in 2012.
The company did not elaborate on the reasons for the change.
Ms Dawn Wee has been appointed as executive chairman. She was previously executive director and is the wife of Stamford Tyres founder Wee Kok Wah, who died in October at the age of 78.
The company said that the board has taken into account her experience and capabilities, familiarity and involvement in all aspects of the business, and extensive knowledge of and longstanding relationships with stakeholders in the tyre industry.
It has also appointed a new, non-executive independent director, Mr Christopher Tan.
Mr Tan was a veteran SPH Media journalist, last serving as a senior correspondent covering transport at The Straits Times until his retirement in July 2024. He joined SPH in 1983. He holds a master’s degree of science in urban transport management from the Singapore University of Social Sciences and is also an associate lecturer at the university.
The company said that Mr Tan will “contribute to the core competencies of the board, as well as provide a different perspective on board discussions”, and that his appointment will also enhance the independent element of the board.
Mr Sam’s and Ms Wee’s appointments came into effect on Nov 1, while Mr Tan’s appointment begins from Dec 1.
For its 2024 financial year, Stamford Tyres generated a net profit after tax of