Joseph Lau's spouse Kimbee Chan to lead Chinese Estates

Chinese Estates Holdings (0127) named Kimbee Chan Hoi-wan, wife of billionaire Joseph Lau Luen-hung, as the chief executive and an authorised representative with effect from February 27.

Meanwhile, her sister Chan Sze-wan will step down from the position, as she wishes to devote more time to her personal endeavors, according to the announcement.

Kimbee Chan, a 41-year-old former journalist, controls a 74.99 percent stake in Chinese Estates.