Leading real estate marketplace servicing China, Fang Holdings Limited, has recently announced two very important changes coming to the company. There will be a change in the company's senior management and an offshoot of China Index Holdings Limited, a wholly-owned subsidiary of Fang, will be proposed.
President of Fang, Jian Liu, has been named the new CEO, replacing Vincent Tianguan Mo, effective immediately. Mo will stay with the company, however, opting to serve as Chairman of Fang's board of directors.
Zijin Li is Fang's current deputy CFO. He will be promoted to acting CFO and Board Secretary to replace Dr. Hua Lei, effective immediately. Dr. Lei will serve as Fang's Chief Investment Officer.
Fang brought Liu on in April of 2000 and was promoted from COO to President in 2016. Liu was the company's first Chief Information Officer. Before joining the Fang Holdings Limited team, Liu had worked at the Information Center of Ningbo Economic Committee in Zhejiang Province. Liu studied at Ningbo University where he received a bachelor's degree in computer science.
In comparison, Li had worked for Aofan International Group in Australia for 10 years in a financial management positions before joining Fang. He worked for Fenghui Leasing Ltd. in China for three years as General Manager of Finance Department and graduated from Sydney University of Technology where he got both his bachelor's and master's degrees.
"I am very happy that Mr. Jian Liu and Mr. Zijin Li will shoulder more responsibilities for Fang and myself. I believe a new generation of Fang's management will reshape the Company and bring in a fresh working style," said Vincent Mo, Fang' Chairman, "I, together with Dr. Lei, will continue to be fully committed to the Company in all respects and will fully support the new management."
Proposed China Index Holdings Limited spin-off
Fang is currently planning a spin-off of CIH to explore different options, like potential distribution of CIH's ordinary shares to Fang's shareholders, or a potential private sale of CIH's ordinary shares, even a potential listing of CIH on a major stock exchange in the United States or other global stock exchanges including Chinese domestic exchanges.
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