IRC Limited advised that, further to the announcement of 7 November 2019 concerning the finance leadership transition, Mr. Danila Kotlyarov will relinquish his role as Executive Director, Chief Financial Officer and Authorised Representative of the Company with effect from 1 February 2020 to become the Chief Financial Officer of Petropavlovsk PLC. On the same date, Mr. Kotlyarov will be re-designated as a Non-Executive Director of the Company. The Board of directors of IRC announced that, with effect from 1 February 2020, Mr. Yury Makarov has been appointed as an Authorised Representative and Mr. Johnny Shiu Cheong Yuen has been appointed as the Interim Chief Financial Officer of the Company.

Mr. Yury Makarov, aged 45, joined the Group in 2010 as Chief Executive Officer and Executive Director. In 2002, he joined Aricom as COO and subsequently Petropavlovsk as the Group Head of Industrial Commodity Operations, before taking up his current role at IRC in 2010. Mr. Johnny Yuen, aged 46, joined the Group in 2010 before the listing of the Company and is the Company Secretary, Corporate Controller, and Authorised Representative of IRC.

Mr. Yuen began his career in KPMG and has over 20 years of financial management, accounting, auditing and administration experience, including working in various senior positions of listed companies in Hong Kong.