SINGAPORE —  Olam International Limited board of directors announced on Dec. 2 that Narain Girdhar Chanrai will retire as non-executive director of the board.

 “As a member of the founding family sponsor, I have been a part of the Olam family ever since its incorporation and have been a non-executive director on its board since inception,” Chanrai said. “During this time, the company has grown from a small start-up in Nigeria to a global agri-business leader today. Olam has been a significant part of the Kewalram Chanrai Group (KC), and I am extremely proud to have played a part in its success.”

Chanrai, currently the group  chief executive officer (CEO) of the KC Group and managing director of Kewalram Singapore Limited, was first appointed to Olam’s board as a non-executive director in 1995 and has served on various board committees, including the Audit & Compliance Committee, Capital & Investment Committee, Governance & Nomination Committee and the Corporate Responsibility & Sustainability Committee.

“My stepping down is part of an on-going board renewal plan that was initiated in 2012.It also allows me to focus on my other commitments and responsibilities as Olam’s CEO of the KC Group. With Temasek’s majority stake and the recent addition of Mitsubishi Corporation to the shareholder register and the board, I am confident the company is poised for even greater success in the future.”

Kwa Chong Seng, Olam’s chairman, said, “My fellow board members and I would like to place on record our deep appreciation for the vision and leadership that Chanrai has provided to the Olam group over the past 25 years. He has played a vital part in promoting and backing Olam every step of the way from a one-country, one-product business to a leading global agri-business with 16 product platforms spanning 65 countries.”

 “Olam would probably have not reached where it is today had it not been for the foresightedness of the KC Group and Chanrai in particular,” said Olam’s Co-founder, Group Managing Director and CEO, Sunny Verghese. “On behalf of the 23,000 strong Olam family, I would like to express my deepest gratitude for his support and guidance over the past 25 years.”

With Chanrai stepping down, the composition of the board committees will be as follows:

Audit & Compliance Committee:
Michael Lim Choo San (chairman)
Robert Michael Tomlin
Nihal Vijaya Devadas Kaviratne, CBE
Katsuhiro Ito
Yap Chee Keong

Capital & Investment Committee:
Sanjiv Misra (chairman)
Kwa Chong Seng
Jean-Paul Pinard
Marie Elaine Teo
Yutaka Kyoya
Shekhar Anantharaman
Sunny George Verghese

Corporate Responsibility & Sustainability Committee:
Jean-Paul Pinard (chairman)
Robert Michael Tomlin
Nihal Vijaya Devadas Kaviratne, CBE
Marie Elaine Teo
Katsuhiro Ito
Shekhar Anantharaman

Governance & Nomination Committee:
Michael Lim Choo San (chairman)
Kwa Chong Seng
Yap Chee Keong
Katsuhiro Ito

Human Resource & Compensation Committee:
Kwa Chong Seng (chairman)
Jean-Paul Pinard
Sanjiv Misra
Yutaka Kyoya

Risk Committee:
Robert Michael Tomlin (chairman)
Michael Lim Choo San
Sanjiv Misra
Yap Chee Keong
Marie Elaine Teo
Yutaka Kyoya
Sunny George Verghese