Kaisa Group board of directors appoints executive directors, chairman

By Caroline Salls

Pittsburgh, April 13 – Kaisa Group Holdings Ltd.’s board of directors appointed Kwok Ying Shing as executive director and chairman of the board and Zheng Yi as an executive director, both effective April 13, according to a news release.

Kaisa said Sun Yuenan and Ye Lieli are no longer the co-chairmen of the board and have been re-designated as vice-chairmen of the board.

Kwok was one of the founders of the Kaisa group and was the company’s chairman and an executive director before his resignation on Dec. 31.

Kwok Ying Shing and his brothers, Kwok Ying Chi and Kwok Chun Wai, are also the controlling shareholders of the company.

Kwok was appointed for a term of three years, subject to retirement by rotation and re-election at the annual general meetings. He is entitled to a director’s fee of HK$100,000 per year.

Zheng has been the president of Kaisa Zhiye Development (Shenzhen) Co., Ltd. since January 2014. He joined the Kaisa group in July 2007 and held various positions within members of the group.

Zheng was also appointed for a term of three years, subject to retirement by rotation and re-election at the annual general meetings. He is entitled to a director’s fee of HK$1.73 million per year.

Kaisa Group is a Shenzhen, China-based property development company.

© 2015 Prospect News.
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