SINGAPORE: Fraser & Neave directors to leave
Fraser & Neave's board of directors have said they will resign from the company once the takeover by TCC Assets is completed.
In a statement released today (29 January), the company said all directors will step down, including those seeking re-election at today's AGM. “The directors are committed to ensuring an orderly transition to a new board,” the statement said.
Once TCC's SGD9.55 per-share offer is declared “unconditional”, F&N's board will appoint three new directors in consultation with TCC, it said.
ThaiBev-controlled TCC appears to have won the long-running battle for the Singapore conglomerate after property group Overseas Union Enterprise withdrew a lower offer earlier this month.
- Interview: Mondelez eyes sweet success in China
- The benefits of engaging staff in sustainability
- How food companies involve staff in sustainability
- Why Danone is withdrawing Dumex from Vietnam
- How PepsiCo is taking action on palm oil
- 2 Sisters chief Boparan buys Bernard Matthews
- Fonterra says value-added strategy paying off
- B&G Foods acquires ABF's US spice business
- General Mills profit falls as sales disappoint
- MP calls for probe into Bernard Matthews "sale"
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- Global Foodservice Market 2016-2020
- Global Food and Drinks Closures: Performance and Opportunities
- Fast Food Restaurants in the US - Industry Market Research Report