Credit Corp appoints acting chairman

THE Credit Corporation PNG Board has appointed Richard Sinamoi as acting chairman following the departure of Syd Yates.
Yates was appointed by the board on May 21, 2018 as a non-executive and independent director.
He was then elected as chairman on Nov 27, 2018.
During Yates’s tenure, the Group delivered an impressive cumulative total shareholder return of 73.6 per cent, representing an annualised total shareholder return of 20.2 per cent since the 2018 annual general meeting held on June 27, 2018.
Under Yates’s leadership, the board also announced a new strategic direction for the Group.
The board thanked Yates for his outstanding contribution and service to Credit Corporation.
It said Yates led the business with energy and commitment through an incredibly challenging time.
Sinamoi welcomed the appointment of new directors Stephen Humphries and Sir Melchior Togolo. “Both Humphries and Sir Melchior are highly credential directors,” he said.