New World Department Store China's (HKG:0825) chairman, Cheung Fai-yet, Philip, retired effective Friday, according to a same-day Hong Kong bourse filing said.
The department store operator, on the same day, named Cheng Kar-shun, Henry, as its new chair.
Cheng was appointed as a substantial shareholder and director of New World Development Company in October 1972.
The company also appointed Huang Shaomei, Echo, as its vice-chairman on the same day. Huang became the CEO of New World Development Company in November 2024.