New World appoints China COO as executive director

New World Development (0017) has appointed its China chief operating officer Chan Yiu-ho as an executive director.

Chan will also become the chief executive of the group's China operation New World China Land. Both changes will take effect from Friday, according to a filing on Thursday. 

Chan, 53, is entitled to a director’s fee of HK$362,000 per annum and a monthly salary of HK$460,000, a discretionary bonus, and other benefits and allowances. 

He is an executive director of New World Department Store China (0825) and a director of certain subsidiaries of the group. 

Chan joined the developer in 2000 and served in roles such as Shenyang regional chief executive, regional CEO of North China and general manager of North China and Northeast China of New World China Land.