The board of directors of Shun Tak Holdings Limited announced changes to the board with effect from the conclusion of the annual general meeting of the company held on 23 June 2017. The company announced Dr. Stanley Ho (Dr. Ho), the group Executive Chairman, has retired by rotation at the AGM in accordance with the articles of association of the company. Dr. Ho did not seek re-election at the AGM. Accordingly, Dr. Ho retired as the Group Executive Chairman and Executive Director of the company with effect from the conclusion of the AGM. Dr. Ho, as a founder of the company and its subsidiaries, has served on the Board for over 44 years. Ms. Ho Chiu King, Pansy Catilina (Ms. Pansy Ho), aged 54, currently the managing director of the company, has been appointed as Group Executive Chairman with effect from the conclusion of the AGM. Ms. Pansy Ho joined the group as an executive director in 1995, and was appointed the managing director in 1999 to oversee the group's overall strategic development and management. She is also the chairman of the executive committee, a member of the remuneration committee and nomination committee of the company; and a director of a number of subsidiaries of the company.