New World Department Store China Limited Announces Management Changes, Effective 1 July 2023
30 June 2023, is HKD 150,000, which is determined based on his duties, responsibilities, qualifications and experiences, the prevailing market condition and the Company's profitability and remuneration policy, and is subject to review of the Remuneration Committee and the Board from time to time. The Board announced that, following the resignation of Mr. Cheung as a joint chief executive officer of the Company and the chairman of the Executive Committee on 1 July 2023, Ms. Xie Hui-fang, Mandy ("Ms. Xie"), the other joint chief executive officer of the Company, will be re-designated as the chief executive officer of the Company (the "Chief Executive Officer"), and will also be appointed as the chairman of the Executive Committee, a member of each of the Nomination Committee and the Remuneration Committee, all with effect from 1 July 2023. Ms. Xie will continue to serve as an executive Director. Ms. Xie Hui-fang, Mandy, aged 47, was appointed as an executive Director and a joint chief executive officer of the Company in May 2021. She joined the Group in 2001 and was appointed as a member of the Executive Committee in 2019, and is responsible for monitoring and supervising the legal affairs, contractual management, human resources strategy and development, staff training and administrative management of the Company. In addition, Ms. Xie is also in charge of matters relating to the overall management of the Company, promoting the business development and implementing the operational strategy of the Company. Ms. Xie is also a director and/or legal representative of a number of subsidiaries of the Company. Ms. Xie graduated from the East China University of Political Science and Law, and has over 20 years of managerial experience at large-scale corporate chain stores. She has extensive experience in the management of legal affairs, structuring of corporate risk management system, corporate governance, project management and planning. She is also experienced in areas such as formulating human resources strategy, planning staff development and training, as well as corporate administrative management.