The board of directors of Pacific Century Premium Developments Limited announced that Mr. Lee Chi Hong, Robert ("Mr Lee") will retire from his positions as Non-Executive Chairman and a Non-Executive Director of the Company with effect from 8 May 2023. The Board announced that, upon the retirement of Mr. Lee, Professor Wong Yue Chim, Richard ("Professor Wong"), currently an Independent Non-Executive Director of the Company, the Chairman of Audit Committee, and a member of Remuneration Committee and Nomination Committee of the Board, will be appointed as Independent Non-Executive Chairman of the Company with effect from 8 May 2023. Professor Wong, aged 70, is an Independent Non-Executive Director of the Company, the Chairman of Audit Committee of the Board, and a member of Remuneration Committee and Nomination Committee of the Board.

He became a director of the Company in July 2004. Professor Wong is Professor of Economics at The University of Hong Kong. He was awarded the Silver Bauhinia Star in 1999 by the Government of the Hong Kong Special Administrative Region for his contributions in education, housing, industry and technology development.

In addition, Professor Wong was appointed a Justice of the Peace in July 2000. He studied Economics at the University of Chicago and graduated with a Doctorate in Philosophy. Professor Wong is currently an Independent Non-Executive Director of Great Eagle Holdings Limited and Sun Hung Kai Properties Limited, both of which are companies whose shares are list on the Stock Exchange.