"With my appointment as chairman of SGX effective September 22, 2016, stepping down from the Olam board will allow me more time to devote to my new responsibilities at SGX," said Mr Kwa. "I would however stay on Olam's board as chairman and independent director until a new chairman is appointed to ensure a seamless handover and oversee an effective transition over the course of the next few months." The independent non-executive chairman first joined Olam's board in October 2014 as deputy chairman. He was appointed chairman in October last year. Mr Kwa was also previously chairman and managing director of ExxonMobil Asia Pacific Ltd from December 1999 to October 2011. He holds 20,000 shares in SGX.