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Cdl Directors Put Stop Legal Action Executive Chairman Kwek Leng Beng And Son Sherman Kwek Retain

Posted on March 12, 2025 by mentorshiponline

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Article Rewrite:The long-standing conflict within the boardroom-family of City Developments has seemingly come to a close. Executive chairman Kwek Leng Beng has decided to drop all legal actions against a group of board directors, headed by his son and group CEO Sherman Kwek. The board will now consist of four members, including Kwek Leng Beng, Sherman, and two newly appointed independent directors, Jennifer Duong Young and Su Yen Wong.”In the best interest of CDL and its stakeholders, all board members have agreed to put aside their differences,” announced Kwek Leng Beng. He also emphasized that the focus will be on strengthening the company’s business in accordance with good corporate governance. This includes completing ongoing developments in Singapore and globally, expanding Millennium & Copthorne’s brands, and maximizing shareholder value through capital recycling initiatives. The statement was released by Kwek Leng Beng on behalf of the board.

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