New management for Carlsberg Asia Ltd.

Carlsberg Asia Pte Ltd., the 50/50 joint venture between Carlsberg Breweries A/S and the Chang Beverages Pte Limited, will as of 1 October, 2002 gradually change its top management team. The transition will be completed when the present CEO Michael C. Iuul reaches retirement age in January 2003.

Ooi Boon Aun presently Vice chairman of T.C.C. Group of Companies and a Board Director of Carlsberg Asia will be appointed Chief Investment Officer. Jorgen Bornhoft, CEO of Carlsberg Brewery Malaysia Berhad, will be appointed COO responsible for the activities in South East Asia, Jesper Bjorn Madsen, CEO of Carlsberg Hong Kong Ltd., will also be appointed COO responsible for the northern regions, and Michael Chye, CFO of PSG Group Ltd. will be appointed new Chief Administrative Officer of Carlsberg Asia.

A four member Executive Committee will be established as part of the new management of Carlsberg Asia. Carlsberg Breweries’ partner in Asia, Khun Charoen Sirivadhanabhakdi, Chairman of the Board of Directors of Carlsberg Asia and Chang Beverages Ltd. will chair the Executive Committee. Paul Bergqvist, Executive Vice President of Carlsberg Breweries and Narong Srisa-An, Chairman of the Executive Board of Beer Thai, will be appointed deputy chairmen. Bjorn Erik Næss, Chief Financial Officer of Carlsberg Breweries, will be the fourth member.

Michael C. Iuul retires as CEO of Carlsberg Asia as per 31 December 2002. The new management of Carlsberg Asia takes over on 1 October 2002 in order to provide a suitable period of overlap between the existing and the new management of Carlsberg Asia. During the autumn of 2002, Michael C. Iuul will be phasing out his board memberships of the Carlsberg Asia group companies. His positions and directorships within Carlsberg Breweries group companies will be phased out during the first quarter of 2003.

Ooi Boon Aun comes from a position as Vice chairman of the T.C.C. Group of Companies. Prior to that he was Executive Director of the listed UK company London Forfaiting Company Ltd. engaged in international forfeiting and Capital Market activities. Ooi Boon Aun holds a degree as Bachelor of Business Administration from the National University of Singapore.

Jorgen Bornhoft has been CEO of Carlsberg Brewery Malaysia Berhad since 1991. He joined Carlsberg’s International Division in 1970 and was prior to his present position responsible for Asia as well as a number of Carlsberg subsidiaries. Jorgen Bornhoft is also director of ABN-AMRO Bank Berhad in Malaysia, and has been president of the Malaysian International Chamber of Commerce and Industry. In July 1997, he was conferred an Honorary Award from the Ruler of the State of Negeri Sembilan which allows him to carry the title “Dato”.
Jesper Bjorn Madsen is CEO of Carlsberg Brewery Hong Kong Ltd. and responsible for Hong Kong, China, and Laos. Jesper Bjorn Madsen joined Carlsberg’s International Division in 1984. Prior to his secondment to Hong Kong in 1995 he was Vice President responsible for Carlsberg’s Asian markets and other subsidiaries. His academic background is Master of Laws.

Michael Chye comes from a job as Executive Director/Group CFO of PSG Group Ltd., which deals with property fund management, financial management and advisory services and corporate restructuring. Prior to joining PSG Group Ltd. in 1999, he was Executive Director of London Forfaiting Asia Pacific Ltd., Hong Kong. His academic background is Master of Business studies with distinction in accounting and finance. His professional qualifications include among others Certified Public Accountant, membership of the Singapore Institute of Directors and of the International Tax Planning Association.

 

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