Hongwei’s independent director Ji Yicheng has resigned saying,”personal reasons, heavy workload”. If the director of a troubled listco can quit when the listco gets into trouble, then what is corporate governance all abt? Such an action is making a mockery of the responsibilities of being an independent director
The SGX must do something to prevent an independent director of a troubled S-Chip, indeed any troubled listco, from resigning. Such a resignation must have the approval of SGX.
The directores at the time the company got into into trouble must sort out the mess. They cannot be allowed to “move on”.