KUALA LUMPUR (May 9): Heineken Malaysia Bhd has announced the retirement of independent non-executive director Datin Linda Ngiam Pick Ngoh.

Carmen Chua, the chief executive officer of ONE IFC Sdn Bhd, will succeed her.

ONE IFC is the developer of the St Regis Hotel and Residences Kuala Lumpur.

In a filing with Bursa Malaysia on Monday (May 8), Heineken said Ngiam's retirement as a director of the company is by rotation pursuant to Clause 84 of the company’s constitution after the conclusion of the 59th annual general meeting (AGM). 

Ngiam, 68, was appointed to the board as an independent director on Dec 3, 2012, according to the filing. 

She has also served as a member of the nomination and remuneration committee (NRC) and the audit and risk management committee (ARMC) of the company. 

“She has played an instrumental role in providing valuable guidance and insights in the group’s strategic matters, in particular on stakeholder communications, sustainability, people developments and corporate governance,” Heineken said. 

“The board of directors and management would like to convey their heartfelt gratitude and appreciation to Datin Linda Ngiam for her commitments and invaluable contributions as a long-serving member of the board and the board committees,” the company added. 

Ngiam will be succeeded by Chua, who will be appointed as an independent director effective from May 13, a day after the 59th AGM. 

Chua will also be appointed as a member of the NRC and ARMC upon the retirement of Ngiam. 

Chua is also the managing director of ONE KLCC Sdn Bhd, the developer of the ONE KL condominium. 

She sits on the board of various companies within the CMY Capital group, and is a trustee of Amanah Warisan Negara, a national public trust founded by Khazanah Nasional Bhd, with the objectives of undertaking projects involving the rejuvenation, rehabilitation and/or operations of selected public spaces together with heritage assets of national significance. 

“With her extensive leadership and in-depth management experience in the hospitality industry, the board is confident that Carmen will be able to bring fresh perspectives and further diversity to the board,” Heineken said. 

Heineken shares were two sen higher at RM28.76 at Tuesday's noon break, valuing the company at RM8.69 billion.