The board of directors of Li & Fung Limited announced that due to the change of role of Dr. Fu Yuning from chairman of China Merchants Group Limited to chairman of China Resources (Holdings) Company Limited, Dr. Fu is no longer able to serve as a Director of the company. Accordingly, Dr. Fu has tendered his resignation as an Independent Non-executive Director and a member of the Audit Committee and Nomination Committee of the Company with effect from 31 December 2014.