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Shangri-La Asia executive director to retire

Shangri-La Asia Ltd. executive director Madhu Rama Chandra Rao is retiring, effective Dec. 31.

Rao has been an executive director at the company since 2008, and was CFO until he retired in 2016. Rao also served as acting president of company subsidiary Shangri-La International Hotel Management Ltd. through Aug. 31.

Additionally, the company named Yap Chee Keong to be an independent nonexecutive director, effective Dec. 11.

Keong will hold office until the company's next general meeting. He is also an independent nonexecutive director at SembCorp Industries Ltd. and Olam International Ltd., among other affiliations.