According to Nomura, post market close on 9 October 2012, CAPL announced the appointment of Mr. Lim Ming Yan as the group’s incoming president and CEO, to take effect from 1 January 2013.
Here's more from Nomura:
We view the announcement of Ming Yan’s appointment as positive on account of the following factors:
Transition process to be completed earlier than expected: the transition date was initially set for 28 June 2013; this means that CAPL’s CEO transition comes about 6 months ahead of schedule.
Ming Yan’s appointment had been widely anticipated by the street and his appointment is likely to have a stabilising effect on the firm.
The incoming CEO appears well suited for the role, in our view. Ming Yan has a strong management track record and in-depth China knowledge, which we think will be a positive for CAPL. The announcement is thus no surprise and is likely to put investors at ease.
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