Genesis Resources Limited announced number of changes to Genesis' Board and management structure. Mr. Eddie Pang will be stepping down from his role as Chairman of the Board, effective 28 September 2015, in order to assume an executive role as Managing Director of Genesis. Mr. Pang performed the role of Non-Executive Chairman of Genesis up until 1 December 2013, when he transitioned into the role of Executive Chairman.

As a result of Mr. Pang's increased responsibilities within Genesis in an executive capacity, Mr. Pang is not considered by the Board to be an independent Director. In line with the Board's commitment to corporate governance and complying, where practicable, with the ASX Corporate Governance Principles and Recommendations, Mr. Pang has stepped down from his role as Chairman (but remains as Director), and the Board has appointed current Non-Executive Director Mr. Kinpo Yu as Chairman. The company also announced that Mr. Zilong Dai, who was appointed Non-Executive Director of Genesis on 26 June 2015, will assume the role of Executive Director and Chief Executive Officer, effective 28 September 2015.

Mr. Dai has extensive executive management and accounting expertise gained through working in Australia and China, and experience in managing M&A transactions in the resources sector.