Top level moves at some of the biggest developers in mainland China and Hong Kong lead Mingtiandi’s roundup of personnel changes this week, with the founder of one of the region’s largest developers formally relinquishing all involvement with his company at the age of 92. We also have news of a mainland developer finding a permanent CFO after losing their finance boss to a sex scandal two months ago and certain Swedish furniture company has named a new head of its regional shopping centre operation.
Lee Shau-kee has relinquished his remaining position with Henderson Land, the developer that he founded in 1976, according to an announcement in the company’s interim report released last week. Now 92, Henderson said that Lee had given up his role as a non-executive director of the company following the conclusion of its annual general meeting at the end of May and had resigned as a director of Believegood Ltd, a company which holds 16.48 percent of Henderson, during June. Lee had formally turned over management of the company to his two sons in early 2019.
Mainland developer Sinic Holdings announced on 7 September that Chen Kai had resigned as executive director, co-chairman and CEO with effect from 1 October 2020, with Zhang Yuanlin, also an executive director and co-chairman of the company, being designated as CEO and sole chairman with effect from 1 October. Zhang had recruited Chen, formerly an executive with China Resources Land, Fosun Property Holdings and Sunshine City, to join Sinic as CEO and co-chair in early March this year, with Chen now said to be leaving in order to devote more time to personal and other commitments.
Mainland developer Times China Holdings informed the Hong Kong exchange on 7 September that it had appointed Huang Sining as its new chief financial officer with effect from 10 September, completing a management transition which had begun with a sex scandal in July. Huang takes on his new role with Times China after previously serving as CFO of its Times Neighbourhood unit, replacing Niu Jiming. A long-time director of Time China, Niu had taken on the CFO title in July after the previous officeholder, Wong Wing Nin, had resigned after a video of him engaging in lewd act in a Hong Kong taxi went viral on social media.
On 6 September New Hope Liuhe announced that its board had appointed 6-year company veteran Zhang Minggui as director and president of the Shenzhen-listed developer. Zhang was appointed that day to replace former director and president Deng Cheng, who had resigned from his roles with the company on 5 September due to the group’s strategic arrangements and personnel changes, according to the statement.
Marco Lunardi was named cluster operations manager with Ingka Centres earlier this month, where he will be responsible for guiding the operations of the three existing Livat, Ikea-anchored shopping centres in China, as well as the IKEA offshoot’s expansion in India. Lunardi, who has been with the Ikea group since 2012, began the new role this month after previously serving as general manager of Livat Beijing.
Former CBRE executive Rajat Johar has joined Skootr Global as country head for the Indian shared office provider. Johar’s new role was announced this past week with the veteran real estate executive having previously served a total of 14 years with CBRE, including acting most recently as senior executive director and head of business operations and flexible workplace solutions for India.
If you know of other Asia real estate professionals changing their jobs, getting promoted or just doing something exciting, please contact us here at Mingtiandi.