Catherine Wu resigns as advisor to CDL hotel subsidiary amidst boardroom battle
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Dr Catherine Wu, former advisor to Millennium & Copthorne Hotels (M&C), has resigned from her position. Dr Wu was at the forefront of the recent high-profile City Developments Limited (CDL) boardroom battle between CDL executive chairman Kwek Leng Beng and hCatherine Wu resigns as advisor to CDL hotel subsidiary amidst boardroom battle
Dr Catherine Wu, former advisor to Millennium & Copthorne Hotels (M&C), has resigned from her position. Dr Wu was at the forefront of the recent high-profile City Developments Limited (CDL) boardroom battle between CDL executive chairman Kwek Leng Beng and his son, CDL CEO Sherman Kwek. Sherman Kwek had previously accused Dr Wu of «interfering in matters going well beyond her scope», adding that «she wields and exercises enormous influence». In a press release on Tuesday (March 4), Kwek Leng Beng said that M&C — the hotel arm of CDL — has received the «irrevocable resignation» of Dr Wu as an unpaid independent advisor, with immediate effect. «Now that Dr Wu has resigned, the CEO and his team of directors no longer have any continuing basis to make such corporate governance allegations about CDL and to justify his board coup,» said the CDL executive chairman.