The board of directors of China Overseas Land & Investment Limited announced the resignation of Mr. Hao Jian Min as an Executive Director, Chairman and Chief Executive Officer of the company and Mr. Xiao Xiao be elected as Chairman and be appointed the Chief Executive Officer of the company with effect from November 15, 2016. Due to realignment of work duties, Mr. Hao resigned as an Executive Director, Chairman and Chief Executive Officer of the company. Mr. Xiao was appointed Executive Director of the company from 1 February 2005, Vice Chairman of the company from 22 March 2007 and the Senior Vice President of the company in August 2009.

Besides acting as the Executive Director, Chairman and Chief Executive Officer of the company, Mr. Xiao is currently a Director of China Overseas Holdings Limited and certain of its subsidiaries, and also Director of certain subsidiaries of the Group with effect from November 15, 2016.