The board of directors of Chiho Environmental Group Limited announced that Mr. Rafael Heinrich Suchan will be appointed as an Executive Director and the Chief Executive Officer of the company with effect from March 1, 2020. Since April 2017, he had been globally responsible for identifying and implementing digital solutions which can be used along the whole chemical value chain within Lanxess Digital Transformation activities. In addition, he was also the Chief Digital Officer at Lanxess in Asia-Pacific coordinating Digital Transformation efforts in the region.

His initial current term of office is for a period of three years commencing from 1 March 2020, which is automatically renewable for a successive term of one year upon the expiry of the said term, unless not less than three months' written notice is served by Mr. Suchan. Mr. Suchan's appointment shall remain effective until the next general meeting of the Company after his appointment, where he shall be eligible for re-election, and thereafter subject to retirement by rotation at least once every three years and is eligible for re-election at each annual general meeting of the Company in accordance with the Company's Articles of Association. The board further announced that Mr. Qin Yongming has tendered his resignation as the CEO of the company with effect from March 1, 2020 to focus on his other roles in the Group.

Mr. Qin will remain as an executive Director of the company and chairman of the board. The board further announced that Mr. Suchan will be appointed as a member of each of the Executive Committee, the Pricing Committee and the Strategy And Investment Committee with effect from March 1, 2020.