In a recent SEC filing, Treasure Global Inc, a business services provider, disclosed the appointment of two new members to its Board of Directors. Leong Wei Ping has been appointed as a member of the Board, Chairman of the Audit Committee, and a member of both the Nominating and Corporate Governance Committee and the Compensation Committee, effective August 29, 2024.
Additionally, Anand Ramakrishnan has joined the Board and the Audit Committee, and will serve as the Chairman of the Compensation Committee, effective today.
The appointments come as part of the company's ongoing efforts to strengthen its corporate governance and oversight. Both Leong Wei Ping and Anand Ramakrishnan bring a wealth of experience to their new roles, which is expected to benefit Treasure Global as it navigates the complex business services landscape.
In other recent news, Treasure Global Inc has experienced a series of major changes. The company witnessed the departure of two board members, Joseph "Bobby" Banks and Jeremy Roberts, with no successors announced yet. In addition, the company withdrew its S-1 Registration Statement with the U.S. Securities and Exchange Commission, a move designed to protect shareholder value and refocus the company's growth strategy amid challenging market conditions.
Treasure Global also announced a strategic partnership with TikTok to integrate TikTok Shop with its ZSTORE platform, part of the ZCITY Super App. This move aims to enhance the online shopping experience for ZCITY's 2.7 million users and tap into the rising social commerce trend.
The company saw the resignation of Ho Yi Hui from her position as Executive Director, with no immediate replacement mentioned. Additionally, two new directors, Carlson Thow and Dr. Darren Tan Kok Pin, were appointed to the board, with Thow also assuming the role of CEO.
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