The board of Directors of Li & Fung Limited announced the changes. 2014. Mr. Bruce Philip Rockowitz has tendered his resignation as an Executive Director and a member of the Risk Management and Sustainability Committee of the company with effect from 1 July 2014 and will cease to be the Group President and Chief Executive Officer of the company with effect from 7 July 2014.

Mr. Spencer Theodore Fung, an Executive Director of the company, will assume the role of Mr. Rockowitz as the Chief Executive Officer of the company on 7 July 2014. Mr. Marc Robert Compagnon has been appointed as an Executive Director and a member of the Risk Management and Sustainability Committee of the company with effect from 1 July 2014. Mr. Marc Robert Compagnon is President of LF Sourcing overseeing the Group's global agency business for apparel and hard goods as well as the sourcing for the Group's distribution business.

He joined the Group in 2000 at the time of the acquisition of Colby International Limited where he was Chief Merchandising Officer for 17 years and was responsible for establishing Colby's global sourcing network and sales and marketing strategies.