The board of directors of International Housewares Retail Company Limited, together with its subsidiaries announced that (i) Mr. Lau Pak Fai Peter has resigned from his position as the chief executive officer of the company with effect from January 7, 2016, and remains as the chairman of the Board and an executive Director; and (ii) Mr. Chong Siu Hong, Andrew has been appointed as the Chief Executive Officer with effect from January 7, 2016. Mr. Chong, aged 46, prior to joining the group, he was Traditional Chinese medicine director of Wai Yuen Tong Medicine Company Limited since 2014. Mr. Chong was responsible for overall Chinese medicine business in both Hong Kong, the PRC and overseas.