Wu will take on the executive director and CEO posts from 1 July 2021.
Wu has over 20 years experience in tourism, goods trading and resource management. Previously, he worked for China Travel Service Hong Kong Limited (CTS), during which time he was a travel planner in the tour group department for CTS’s subsidiary China Travel Service (Hong Kong) Limited, of which he was also manager of the general office.
Wu has held other senior positions in subsidiaries of state-owned investment company CITIC Group Corporation, including senior director of Dah Chong Hong Foods and vice president of CITIC Resources Holdings Limited.
As is customary, Wu will receive a director’s fee of HK$3,000,000 ($386,364/£279,432/€324,957) per annum, along with a discretionary bonus as determined by the board.
Li and Chan’s resignations as executive director and CEO will both take effect from July 1 2021.
According to a statement from LotSyn, Li is leaving his role to focus on business engagements and Chan is set to concentrate on other work committments.
Following her resignation, Chan will continue to serve as a chairperson of the board and as an executive director.