Top level turnover in mainland China leads this week’s collection of personnel updates from around Asia Pacific with units of red chip giant China State Construction and Engineering Co announcing leadership changes at the same time that HNA Group sees its chairman depart under a cloud and the boss of China Oceanwide Group runs into more court trouble.
China Overseas Property Holdings Ltd announced on 20 February that Dr Yang Ou has resigned as chief executive officer of the Hong Kong-listed company with effect from that same day. Now 46, Yang has been CEO of the property management unit of China Overseas Holdings since 2018 and is also leaving the executive director role that he has held since 2015. Yang’s departure is said to be due to realignment of his work duties. Both China Overseas Holdings, which is also the parent company of developer China Overseas Land and Investment, and China Overseas Property, are units of China State Construction and Engineering Co Ltd (CSCEC).
HNA Investment Group said on 21 February that its chairman, Zhu Weijun had resigned from the company’s top leadership post and has now left the Chinese conglomerate. Zhu, who had served as chief financial officer of HNA Group under former chairman Chen Feng, before his arrest, had been named chairman of HNA Investment in 2019. Zhu had submitted his resignation on 18 February, just two days before the Shenzhen Stock Exchange publicly condemned HNA, Zhu and other officers of the company for failing to disclose related party guarantees and transactions, failing to report equity transfers in a timely manner and for illicit transfer of funds to related parties.
Lu Zhiqiang, former chairman and still the controlling shareholder in China Oceanwide Holdings, will now be flying coach class, following a decision by a Beijing court restricting his consumption, according to local media reports. With Oceanwide Group having failed to abide by court orders to repay creditors, both Oceanwide and Lu, as its legal representative, are forbidden from purchasing goods and services not necessary for life and work. For Lu this will mean economy class only travel, staying at budget hotels and other restrictions until the company’s debts to Dalian Bank are resolved.
China State Construction International Holdings said on 24 February that Zhang Haipeng has been appointed chairman of the Hong Kong-listed unit of China State Construction and Engineering Co Ltd (CSCEC), effective from that same day. Zhang takes over the top spot from CSCEC chairman Yan Jianguo. In the same announcement, China State Construction International said that Wang Xiaoguang would be assuming the chief executive role with the company from Yan, who will continue to serve as an executive director on its board.
Katherine Lo has joined Link REIT in Hong Kong as a director with the trust manager’s asset management division, according to a LinkedIn update. Lo joins Link REIT after more than a decade with Hang Lung Properties, where she had served most recently as general manager for Hong Kong business operation, leading leasing, marketing and service delivery on behalf of the company’s tenants. She also has previous experience with Cathay Pacific Airways.
Cushman & Wakefield said on 23 February that it has appointed Matthew Clifford as head of sustainability and ESG for Asia Pacific. Based in Sydney, Clifford now heads sustainability strategy for the company in the region after joining from JLL, where he had served as a global product owner with its energy and sustainability services division. In his new role, Clifford will lead a team of more than 60 professionals across the region, according to a company statement.
Cushman & Wakefield announced on 24 February that it has hired James Benjamin Normandale as director of vertical practice groups with its project and development services division for Asia Pacific. Working from the company’s office in Singapore, Normandale, who joins from CBRE, is expected to enhance Cushman & Wakefield’s ability to provide specialist project management services for data centre, logistics and life science projects, along with other speciality developments.
Xander Nijnens has been promoted to senior managing director with JLL, where he serves as head of hotel advisory and asset management for Asia Pacific, according to a LinkedIn update. Based in Singapore, Nijnens received his promotion after three years as a managing director with JLL’s hotel advisory and asset management unit, and has now been with the company for more than eight years, after earlier working with JLL in South Africa.
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.
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