Nam Tai Property Inc. appointed Yu Chunhua to the role of interim Chief Executive Officer, replacing Huang Zhichang, who is expected to transition from interim Chief Executive Officer to the role of Senior Vice President for Public Relations and Government Affairs. Mr. Chunhua will continue to also hold his current positions of Executive Director, Legal Representative and Signatory of Nam Tai Investment (Shenzhen) Co., Limited. Nam Tai's Board of Directors believes Mr. Chunhua's local experience, private sector background and current involvement in the Company's efforts to obtain total on-shore control of the Company's assets in China provides him with the requisite experience to serve as the Chief Executive Officer at this point in time.

Mr. Chunhua previously worked in the ministry of foreign affairs and also held private sector positions in the investment and real estate sectors. He holds a Master of Business Administration from the Columbia Business School.