Sun Art Retail Group Limited (06808) has announced changes to its senior management and board composition, effective 8 March 2026. According to the announcement, Chairman of the Board, Mr. Julian Juul Wolhardt, will assume the role of Chief Executive Officer, transition from non-executive to executive director, and become an authorized representative of the company.

Mr. Wolhardt, 52, has served as Chairman since 6 March 2025 and is also the co-founder and CEO of DCP Capital. Prior to founding DCP Capital, he held key leadership roles at KKR Asia Limited and Morgan Stanley Private Equity Asia. The announcement notes that Mr. Wolhardt will not receive remuneration for his tenure as CEO and executive director.

Following this appointment, Mr. Wolhardt will concurrently hold the positions of Chairman and CEO. The board acknowledges that this structure deviates from the recommended separation of roles under the applicable Corporate Governance Code but considers the combined appointment beneficial for providing consistent leadership and effective strategic planning.

The board has also resolved to vacate the office of Ms. Li Weiping as executive director, CEO, and authorized representative, effective immediately on 8 March 2026, due to her extended unavailability and inability to fulfill her duties. Ms. Li remains an employee of the group. The board affirms there is no disagreement with Ms. Li on any matter related to the changes.

The directors extend confidence in Mr. Wolhardt’s leadership and believe he will continue to guide the group effectively in his expanded role.