HONG KONG, Sept 26 (Reuters) - Shares of Hong Kong's New World Development were suspended from trading on Thursday after media reports that CEO Adrian Cheng, the third generation scion of the tycoon family, will be reassigned to a non-executive role.
Trading in shares of subsidiary New World Department Store China was also suspended.
The major Hong Kong property developer is due to announce its earnings for the financial year ended in June at 0830 GMT. The company has flagged a net loss of as much as HK$20 billion ($2.57 billion) for the period.
($1 = 7.7866 Hong Kong dollars)
(Reporting by Clare Jim and Donny Kwok; Editing by Anne Marie Roantree and Muralikumar Anantharaman)
((clare.jim@thomsonreuters.com;))
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