Weifang, People’s Republic of China, 13 June, 2012
Euro Asia Premier Real Estate Company Ltd, today announced it has appointed Mr. Patrick Chan, formerly the Vice Chairman of the Company, as its CEO. Mr. Xiyi Sun will remain Chairman of the Company. Furthermore, Mr. Chan will act as Managing Director for Euro Asia’s operating subsidiary XinPu, as well as the Company’s other Chinese subsidiaries.
Mr. Sun commented, “The move to appoint Patrick as our CEO has been made for a number of reasons. Firstly, in order to improve our corporate governance, we saw the need to create a wider distance between the executive boards of Euro Asia and SNI. Furthermore, ownership of XinPu has been transferred to Euro Asia, making this company much more independent from SNI. The move also allows facilitate Euro Asia’s ambition to make use of existing market opportunities in other third tier cities and emerging regions of China. Finally, Mr. Chan is the perfect ambassador towards the international investment community and in his new role our communication with the market should become even more direct that it already was.”
Separately of the above changes, the Company informed that Mr. Alan Zhu Ming Hao was replaced as CFO of Euro Asia by Mr Chan Dingxiang.
Prior to joining Euro Asia, Mr. Chan Dingxiang (55), an alumni of the He Bei University in China, was Senior Consultant at DEFONE Fund Management Co. Ltd. Mr. Chan Dingxiang has had a long career in infrastructure related financial management in senior roles at the Jiangsu oilfield China Ministry of Oil, as well as the investment department of the Yangzhou branch of the Chinese Construction Bank, where he also was responsible for overseeing new project development.”
Mr. Chan stated, “We are very pleased that with Mr. Chan Dingxiang, we have managed to appoint a new CFO, who has a wealth of experience in infrastructure development and government relations, and brings a wealth of experience to the role of CFO of a fast growing public company.”
Schwarz Financial Communication
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