Charles Chen has resigned from his role as President of CDFG.

Charles Chen has resigned as President of China Duty Free Group (CDFG) with Wang Xuan taking the reins as General Manager.

In a statement seen by TRBusiness from CDFG parent China Tourism Group Duty Free Co. Ltd issued via the Shanghai Stock Exchange today, the Board of Directors confirms that Chen will continue to serve as a Director of the company.

“The company’s Board of Directors expresses its heartfelt thanks to Mr. Chen Guoqiang for his contribution to the company’s development during his tenure as the company’s general manager,” read the statement.

Chen has served in the DF&TR industry for more than 30 years.

Having joined CDFG in 1987, he went on to assume a number of leadership roles in his rise to President.

Shareholders to approve appointments

According to TFWA’s website, Chen served as the General Manager of CDFG Boao Commerce & Trade Co. Ltd and Head of the acclaimed Haitang Bay project, featuring the CDF Mall and Sanya International Duty Free City.

As a former Executive Deputy General Manager of CDFG, Wang Xuan has held a string of senior posts such as Sanya City Manager of CDFG, Chairman and Director of CTS (SANYA), Chairman of CDFG (Cambodia) and Chairman of CDFG Hong Kong.

During a Board of Directors meeting overseen by China Tourism Group Chairman Peng Hui, proposals were agreed to add Li Gang as non-independent director candidate for the fourth board of directors of the company.

Chang Zhujun has been appointed Executive Deputy General Manager and Zhou Lingjun as Deputy General Manager.

The proposed appointments are required to be submitted to the company’s general meeting of shareholders for consideration and approval via special resolution, TRBusiness gathers.

TRBusiness has reached out to CDFG for further comment.