CONVOY GLOBAL HOLDINGS LIMITED Convoy Global Holdings Ltd (>> Convoy Global Holdings Ltd) was identified as part of a network of penny-stock firms whose share prices crashed spectacularly in June.
It has appointed Johnny Chen, a former chairman of China at Zurich Insurance Group (>> Zurich Insurance Group) and former executive member of the Greater-China Management Board at PricewaterhouseCoopers, as its executive director and interim chairman of the board, it said on Sunday.
It has also appointed Yap E-hock and Ip Yee-kwan as its executive directors, and named three new independent non-executive directors, Francine Fu, Martin Pak and Yan Tat-wah, it said in a stock exchange statement.
The Independent Commission Against Corruption, in its first ever joint operation with markets watchdog the Securities and Futures Commission, arrested Convoy's three executive directors, Wong Lee-man, Fong Sut-sam and Chan Lai-yee last week.
The trio was suspended by the company following the arrests.
(Reporting by Venus Wu; Editing by Keith Weir)
