RHEIN REJOINS NOL AS NON-EXECUTIVE DIRECTOR

RHEIN REJOINS NOL AS NON-EXECUTIVE DIRECTOR    Tim Rhein, the former chief executive officer of APL, has been appointed non-executive director of Neptune Orient Lines, the Singaporean company that acquired APL in 1997.
   Rhein was a director of Neptune Orient Lines from 1998 to 2000.
   The appointment of Rhein as a director of the Singaporean shipping group is part of a reshuffle of its board, which features the departure of three former directors.
   Lua Cheng Eng has stepped down as a non-executive director and chairman of the group. Stephen Lee Ching Yen has resigned as a non-executive director. Marvin Girouard has indicated that he intends to resign as a non-executive director, effective June 30.
   Instead, Neptune Orient Lines has appointed four new directors: Tim Rhein, Boon Swan Foo, Lock Sai Hung and Yasumasa Mizushima. Their appointments will become effective on June 20.
   Cheng Wai Keung has taken over as non-executive chairman of the NOL group.
   Rhein will also continue to be a director of Neptune Orient Lines-owned American President Lines, Ltd. and APL Logistics Ltd.