Credit Corp make changes to board

CHANGES were made to the Credit Corporation board in the 2021 financial year (FY21) after three directors left, according to chairman Richard Sinamoi.
He told the company’s recent annual general meeting that directors James Kruse and Michael Varapik resigned, while Syd Yates left.
The new directors appointed were Stephen Humphries, Sir Melchior Togolo and Clare Mazzetti.
“Director Albert Mellam is expected to retire in September at the completion of his third three-year term and the board will seek a suitable replacement at that time,” he said.
Sinamoi said the board wanted to retain the experience and expertise of Faye-Zina Lalo and Abigail
Chang “to ensure board continuity through the next period of strategic transformation and growth of the company”.
“Faye and Abigail will both retire and offer themselves for re-election which the board strongly supports and recommends,” he said.
“We also strongly support and recommend that Clare Mazzetti be appointed as a director.
“With Clare’s appointment, we achieved an important diversity milestone, with 43 per cent female director representation on our board.”
Sinamoi said the company’s constitution required a minimum of five and a maximum of 10 directors, with a majority deemed to be independent and living in PNG.
He said a request to increase the director fee pool would ensure “we can attract the right level of talent”.