Golden Eagle Retail Group Ltd. announced that due to other job commitments, at the conclusion of the annual general meeting of the company held on May 21, 2014, Mr. Liu Chi Husan, Jack retired as an independent non-executive director and did not offer himself for re-election. He has also ceased to be the Chairman of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee of the company. At the AGM, Mr. Lay Danny J was elected as an Independent Non-executive Director.

He was also appointed as the Chairman of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee of the company. Mr. Lay Danny J is now the Business Leader of Emerson Commercial and Residential Solutions, Asia Pacific Region, the Vice President of Business Development & Operations, Emerson Electric company, South-east Asia Region, the Chairman and Director of Emerson Professional Tools (Shanghai) Ltd. and a Director of Emerson Junkang Enterprise (Shanghai) Co. Ltd. He is also a Director of Allied Industrial Corp.

Ltd.