Country Garden founder Yeung Kwok-keung resigns as chairman and executive director, succeeded by daughter Yang Huiyan
- Yang has jointly managed the day-to-day work of the group and has years of experience specialising in business and management, company says in filing to Hong Kong stock exchange
- Yeung will continue as a special adviser at Country Garden
Country Garden founder Yeung Kwok-keung resigned as chairman and executive director for “age reasons” on Wednesday, but will remain a special adviser at the Chinese property developer.
Yang has “jointly managed the day-to-day work of the group with Mr Yeung, and has been responsible for the group’s strategic planning and has years of experience specialising in business and management”, the company said in a filing to the Hong Kong stock exchange.
Yang joined the developer in 2005 and held management positions in departments such as the investment planning centre, procurement, the human resource management centre and digital management centre, before becoming co-chairman in 2018.
“The growth of Country Garden is closely related to rapid urbanisation in China,” said Yan Yuejin, director of Shanghai-based E-house China Research and Development Institute. “It seized this opportunity to expand its business. Investors will also keep an eye on how the company seeks new development opportunities … in China.”