Property and infrastructure developer Hopewell Holdings yesterday announced Sir Gordon Wu Ying-sheung (above) had stepped down as managing director on January 1, but he would continue as chairman.
Hopewell shares rose 4.86 per cent to end at HK$4.85 following the announcement.
Eddie Ho Ping-chang was named to succeed Sir Gordon as managing director.
Mr Ho had been deputy managing director since 1972. He has been involved in developing all the group's projects in China, including highways and hotels. He also has experience in building and developing projects in Hong Kong.
Sir Gordon had been managing director since Hopewell was listed on the stock exchange in 1972. Hopewell also appointed Thomas Wu, son of Sir Gordon, as chief operating officer.
In other reshuffles, Josiah Kwok Chin-lai was appointed deputy managing director and Alan Chan Chi-hung became executive director. Henry Lee Jin-moh retired from his executive duties effective from December 31 and continues as a non-executive director.