Sembcorp Industries (Sembcorp) announced that Mr. Ang Kong Hua will retire as Chairman and a director of Sembcorp at the upcoming annual general meeting (AGM) on April 20, 2023. Mr. Tow Heng Tan, the current Deputy Chairman of Sembcorp, will succeed Mr. Ang as non-executive and non- independent Chairman. Mr. Tham Kui Seng, who has served as a non-executive and independent director on Sembcorp's board for 11 years, will also be stepping down at the AGM.

As Chairman of Sembcorp since 2010, Mr. Ang presided over the board during a period of transformation. Mr. Ang's chairmanship has been characterised by his visionary leadership, strong business acumen and focus on value creation driven by his deep sense of purpose and stewardship. From the internationalisation of Sembcorp's operations to the demerger of Sembcorp's stake in Sembcorp Marine, his leadership and guidance has played a pivotal role in Sembcorp's delivery of value and growth.

First appointed to the board on June 1, 2021, Mr. Tow was appointed as Deputy Chairman on April 21, 2022 and concurrently serves as a member of the Executive Committee (ExCo), Executive Resource & Compensation Committee (ERCC) and Nominating Committee (NC). Currently the chief executive officer of private equity firm Pavilion Capital International with previous senior leadership positions in Temasek International, Mr. Tow brings to the board extensive industry, finance and investment experience. As Mr. Tow will be a non-independent Chairman, Mr. Lim Ming Yan will be appointed as the lead independent director effective April 20, 2023.

He will also take over as Chairman of the ERCC and NC respectively and be appointed as a member of the ExCo. Mr. Lim will relinquish his role as a member of the Risk Committee.