The Board of Directors of MCB Group Limited informed its shareholders and the public in general that Mr. Pierre Guy Nöel, Chief Executive Officer of MCBG, reaches retirement age at the end of August 2021. With a view to ensuring the smoothest possible transition at the helm of the Group, the Board of Directors of MCBG has asked Mr. Pierre Guy Noel to stay as Group Chief Executive Officer, on the basis of an ad-hoc, short-term contract. The effective date of termination is yet to be determined and will be communicated to the public in due course. The Board has also approved the appointment of Mr. Jean Michel Ng Tseung as Chief Executive Officer Designate of MCBG, with effect from 01 September 2021.