Café de Coral Holdings Limited announced that Mr. Sunny Lo will retire as Chief Executive Officer and be re-designated from Executive Director to Non-executive Director with effect from April 1, 2016. Mr. Sunny Lo was elected by the Board to succeed Mr. Michael Chan as Chairman with effect from April 1, 2016. Mr. Michael Chan will remain as Non-executive Director of the company.

Mr. Peter Lo will be appointed as the Chief Executive Officer and replace Mr. Sunny Lo as an Authorised Representative under the Listing Rules and Part 16 of the companies ordinance with effect from April 1, 2016 and Mr. Ian Lo will be re-designated from Non-executive Director to Executive Director with effect from March 3, 2016. Mr. Sunny Lo an Executive Director, the Chief Executive Officer and a member of the Nomination Committee. Mr. Sunny Lo joined the Group in 1982 and has been an Executive Director since 1990.

He was the Managing Director of the Group from December 1997 to March 2012 and was appointed the Chief Executive Officer on April 1, 2012. Mr. Peter Lo, aged 54, is an Executive Director and the Deputy Chief Executive Officer. Mr. Peter Lo joined the Group in 1996 and has been an Executive Director since 1998.

He was appointed as Deputy Chief Executive Officer in September 2015. During the past two decades, Mr. Peter Lo has performed key functions within the Group and led various major projects for the growth and development of the Group's business and operations. He has also been playing an important role in crafting the Group's long-term strategic plan and overseeing its business development.

In his new role as Chief Executive Officer, Mr. Peter Lo will lead the overall management and strategic planning and development of the Group's businesses and operations. Mr. Ian Lo has been a Non-executive Director since 2010 and is a member of the Nomination Committee. Mr. Ian Lo had served as Advisor (Special Projects) and Manager (Food Manufacturing) of the Group during the period from November 2003 to June 2009.

In his new role as Executive Director (Development Strategy), Mr. Ian Lo will be in charge of property and branch development, project and maintenance, quantity surveying and business analysis of the Group.