Overview Leadership Portfolio & Performance Sustainability & Governance Financial Statements and Other Information BOARD INDEPENDENCE AGE SPREAD BOARD GENDER DIVERSITY No. of Directors n Male 6 n Female 3 No. of Directors n 0 to 3 years 3 n >3 to 5 years 3 n >5 to 7 years 3 No. of Directors n 61 years and above 5 n 51-60 years 2 n 50 years and below 2 No. of Directors n Independent Director 6 n Non-Independent Director 3 TENURE MIX The NRC has reviewed the size and composition of the Boards and is of the opinion that the Boards’ current size is appropriate with an appropriate balance and diversity of skills, talents, experience and backgrounds, taking into account the objectives of the Board Diversity Policy and CLAS’ business needs and plans, for effective decision-making and constructive debate. In line with the Board Diversity Policy, the current Boards comprise members who are corporate and business leaders, and are professionals with varied backgrounds, expertise and experience including in accounting and finance, banking and capital markets, investment, real estate, legal and compliance, technology and leadership and governance, and sustainability. The Boards also have a few members with prior working experience in the industry in which CLAS operates. The members of the Boards bring with them the combination of skills, talents, experience and diversity required to serve the needs of CLAS. For further information on the Boards’ work in this regard, please refer to “Board Membership” under Principle 4 in this Report. Principle 3: Chairman and Chief Executive Officer The roles and responsibilities of the Chairman and the CEO are held by separate individuals, in keeping with the principles that there be a clear division of responsibilities between the leadership of the Boards and Management and that no one individual has unfettered powers of decision-making. The non-executive independent Chairman is Mr Tan Beng Hai, Bob, whereas the CEO is Ms Teo Joo Ling, Serena. They do not share any family ties. The Chairman and the CEO enjoy a positive and constructive working relationship between them, and support each other in their respective leadership roles. The Chairman provides leadership to the Boards and facilitates the conditions for the overall effectiveness of the Boards, Board Committees and individual Directors. This includes setting the agenda of Board meetings, ensuring that there is sufficient information and time at meetings to address all agenda items, and promoting open and constructive engagement among the Directors as well as between the Boards and the CEO on strategic issues. The Chairman devotes considerable time to understanding the business of CLAS, as well as the issues and the competition that CLAS faces. He plays a significant leadership role by providing clear oversight, direction, advice and guidance to the CEO. He also maintains open lines of communication and engages with other members of Management regularly, and acts as a sounding board for the CEO on strategic and significant operational matters. Note: Based on the board composition as at the date of this Report ANNUAL REPORT 2023 107
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