Corporate Governance Changes - Santech Holdings Limited announced changes to its Board of directors and senior management to enhance corporate governance and bring additional expertise [1][3] - Mr. Han Hongwei and Madame Wang Dian were removed from their positions due to their inability to fulfill their duties [2] - Lawrence Wai Lok has been appointed as Chairman of the Board and Chief Executive Officer, effective immediately, to lead the company's restructuring and strategic transformation [2][7] New Appointments - Two new Independent Directors have been appointed: Mr. Howard Chan and Mr. Geoffrey Kam, effective immediately [3] - Mr. Howard Chan, a Certified Public Accountant, has extensive experience in corporate finance and transaction advisory, previously serving at Jones Lang LaSalle and Ernst and Young [4] - Mr. Geoffrey Kam, a solicitor with broad litigation experience, is currently a Consultant at Messrs. Boase Cohen & Collins and has served in various public bodies in Hong Kong [6] Audit Committee Composition - The Audit Committee of the Board is now comprised entirely of independent directors: Janet Chen, Joel Gallo, and Howard Chan [5] Company Overview - Santech Holdings Limited is a consumer-focused technology company that has historically served high net-worth clients in China in financial services and health management [7] - The company has exited its historical financial services businesses and is exploring innovative opportunities in technology, including new retail, social e-commerce, and the metaverse [7]
Santech Holdings Announces Changes to Board of Directors and Senior Management