C.P. Lotus Corporation announced that the re-designation of Mr. Li Wen Hai, an executive director of the company, from Senior Vice Chairman and Chief Executive Officer to Executive Chairman and the appointment of Mr. Weng Hai Xin as Chief Executive Officer. Mr. Li Wen Hai, Executive Chairman of the company, is responsible for overseeing the overall management of the business of the company and its subsidiaries and the implementation of the C.P. Lotus Group's strategic development plans formulated by the board; and Mr. Weng Hai Xin, Chief Executive Officer of the company, is responsible for the day-to-day management of the C.P. Lotus Group's business within the strategic development plans of the Company overseen by Mr. Li Wen Hai as Executive Chairman.