Luk Fook Holdings (International) (HK:0590) has released an update.
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Luk Fook Holdings (International) Limited has announced the re-election of its founder, Mr. WONG Wai Sheung, as Chairman and Chief Executive Officer after the recent Annual General Meeting. Despite the deviation from corporate governance norms that advocate for separate roles of Chairman and CEO, the company asserts that Mr. WONG’s dual role is beneficial, especially for enhancing business in Mainland China due to cultural business practices. The board remains confident that its current composition, supported by various committees and the Deputy Chairman, ensures balanced leadership.
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