The board of directors of Kong Shum Union Property Management (Holding) Limited announced that Mr. Yan Chi Ming has resigned as the Chairman of the Board and an executive Director with effect from July 29, 2016 due to his other business commitments. The Board also announced that Mr. Eric Todd has been appointed as the Chairman of the Board and an executive Director with effect from August 01, 2016 to fill the vacancy arising from the resignation of Mr. Yan. Mr. Todd, aged 54, joined the company as chief operating officer in June 2016 and will cease to serve as the same position upon the Appointment. Mr. Todd has entered into a service contract with the company for an initial term of three years with effect from 1 August 2016 which is renewable automatically for successive terms of one year each commencing from the day next after the expiry of the then current term of the appointment, unless terminated by either party giving not less than two months' notice in writing to the other party.