The board of directors Global Brands Group Holding Limited announced Hau Leung Lee, an Independent Non-executive Director, has been re-designated as a Non-executive Director and ceased to be the chairman of the Remuneration Committee of the company with effect from 14 June 2017 following his appointment as the chairman of the Fung Academy. Audrey Wang Lo, an Independent Non-executive Director and a member of the Audit Committee and the Remuneration Committee of the Company, has been appointed as the chairperson of the Remuneration Committee in place of Lee with effect from 14 June 2017. In addition, Paul Edward Selway-Swift, an Independent Non-executive Director and a member of the Audit Committee of the company, has been appointed as a member of the Remuneration Committee with effect from 14 June 2017. The composition of the Remuneration Committee of the Company, after the aforesaid changes, comprises Audrey Wang Lo as chairperson and William Fung Kwok Lun and Paul Edward Selway-Swift as members. The Board also announced that Dow Peter Famulak has resigned from his position as an Executive Director of the company with effect from 14 June 2017 so as to devote more time to his other roles and responsibilities within the Group. He remains a member of the senior management after his resignation as an Executive Director.