KVB Kunlun’s Li Zhi Da to retire as Director and Board Chairman
He is set to retire at the company’s 2018 annual general meeting to be held on May 21, 2018.
Hong Kong-focused retail Forex broker KVB Kunlun Financial Group Ltd (HKG:6877) has announced a significant change at its top management ranks, as Mr. Li Zhi Da, a non-executive Director and the Chairman of the Board, will retire as Director at the company’s 2018 annual general meeting to be held on May 21, 2018.
Mr. Li is eligible but he will not stand for re-election at 2018 AGM and will retire as non-executive Director and Chairman of the Board after the conclusion of 2018 AGM. He has confirmed that he has no disagreement with the Board.
Mr. Li is one of the founders of KVB Kunlun and one of the substantial shareholders of the company. Mr. Li was a director of each of KVB Kunlun New Zealand Limited and KVB HK from their respective incorporation until May 2009 and June 2009, respectively. Mr. Li is also a director of each of KVB Holdings, LXL Capital I Limited and LXL Capital II Limited.
Mr. Li was the legal representative of a private company engaged in the business of production and sales of cosmetics in the PRC, including the brand “Mininurse”. Since the disposal of the cosmetics business in December 2003, Mr. Li has diversified his investments into other business areas including tourism business in the PRC.
Mr. Li obtained his master’s degree in project management from the Zhejiang University in March 1994. Mr. Li was appointed as a Director on August 30, 2011.
There have been other changes at the top of KVB Kunlun over the past several months. In November last year, the resignation of Mr. Ng Chee Hung Frederick as executive director of KVB Kunlun got into effect. He also ceased to be the compliance officer of the company and its authorised representative. Mr. Ng has stressed that there is no disagreement between him and the board of directors of the broker.
Mr. Liu Stefan, the chief executive officer and the executive director of the company, has been appointed as the Compliance Officer. Mr. Wong Yiu Kit, Ernest, the chief financial officer and the company secretary of the company, has been appointed as the Authorised Representative, with effect from November 17, 2017.
In December last year, the broker secured the approval of the Hong Kong Stock Exchange to transfer its listing from GEM to the Main Board.
