New World Development shares set to drop after CEO change

Reuters

2024/12/02

HONG KONG, Dec 2 (Reuters) - Shares of New World Development 0017.HK are set to open down 1.1% after the Hong Kong property developer appointed another new chief executive just two months after it replaced Adrian Cheng, the 45-year-old from its founding family.

The company said on Friday it has appointed Echo Huang, who has been an executive director of the company and CEO of its New World China Land Limited since 2020, as the new CEO to replace Eric Ma.

(Reporting by Clare Jim; Editing by Tom Hogue)

((clare.jim@thomsonreuters.com;))

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