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China Logistics Property names new CEO

China Logistics Property Holdings Co. Ltd. appointed Pan Naiyue as its new group CEO, effective immediately, replacing President and Chairman Li Shifa, who resigned the role.

The company said it made the change in order to enhance its corporate governance practices and to comply with a requirement of the Hong Kong Stock Exchange that the CEO and chairman roles be separate and not performed by the same individual.

Pan joined China Logistics Property's board as an executive director in April 2014.

Li will remain as an executive director and the president of the company and the chairman of the board, as well as the chairman of its nomination committee and a member of its remuneration committee.