Sing Tao News Corporation (1105) has appointed Kwok Hiu-ting, executive director and vice-chairman, and Cai Jin, chief operating officer, as co-chief executives from October 2.
Cai Jin will resign from his current position after being on board since June 4. The board also appointed him as an executive director, with a director's emolument of HK$1.596 million a year.
Siu Sai-wo has resigned without disagreement with the board. He will resign as an executive director and chief executive of the company to devote more time to his personal endeavors.
Kwok Hiu-ting and Cai will also be appointed as the authorized representatives under the Listing Rules and the Companies Ordinance of the media company to replace Siu's position.
The 27-year-old Kwok Hiu-ting is the daughter of Kwok Ying-shing, chairman of Sing Tao and the mainland property developer Kaisa Group (1638).
Cai, aged 34, has more than 12 years of experience in media and finance, and previously took up key roles in several listed companies in Hong Kong.
Kwok Ying-shing said in the announcement: "The board would like to express its appreciation to Mr Siu for his valuable contribution during his tenure of office in the company and extend its warmest welcome to Ms Kwok on her new roles and Mr Cai on his new appointment."
