This article first appeared in The Edge Financial Daily on September 14, 2018

KUALA LUMPUR: Hours after shareholders of PanPages Bhd voted not to re-elect the group’s chairman and an executive director yesterday, two more of its directors resigned.

In a stock exchange announcement, PanPages said Fong Wai Leong, the group’s executive director and chief executive officer, had resigned, citing personal reasons.

Independent non-executive director Wong Mun Wai also resigned for a personal reason.

Tengku Farith Rithauddeen, the group’s independent  non-executive chairman, had failed to garner sufficient shareholder support at the group’s annual general meeting yesterday morning to keep his role. Yap Kien Ming, an independent non-executive director, was also voted out.

Following their vacation of offices and the above resignations, there is effectively no sitting remuneration committee in PanPages. This also leaves the group with only two sitting board members, namely Yap Chor How, who is an executive director, and Yeap Weng Hong, a non-executive director.