Hui Ka-yan, the property magnate who controls the world’s most-indebted developer, has promoted one of his corporate lieutenants as he stepped down as chairman of the closely held Hengda Real Estate Group, in an executive reshuffling that raised concerns about his grip on his flagship China Evergrande Group.Hengda director Zhao Changlong was promoted to chairman of Evergrande’s mainland China property unit. The executive will also take over from Ke Peng as Hengda’s general manager, according to…
Source : South China Morning Post
Read more…Hui Ka-yan steps down as chairman of Hengda as China Evergrande reshuffles its executive ranks in restructuring
