The company revealed that it lost a key board member and that they will be replaced by the current executive director.
US.- Imperial Pacific International Holdings (IPI) has announced that Cai Lingli, director of the company and chairperson of the executive committee, has stepped down from her roles. The departure marks the second one in a week for the company.
In a filing to the Hong Kong Stock Exchange, IPI said: “Considering that the business of the group has been growing and the current management is capable of leading further development of the group, Ms Cai wishes to devote additional time to her family and other personal business commitments.”
The departure comes only a week after Marco Teng revealed the end of his role as chairman of the company. Both positions will be filled by the current executive director, Ms Xia Yuki Yu, with immediate effect. The executive is already director of a number of IPI subsidiaries, is a board member and holds a 0.27 per cent stake in the company.