The board of directors of Tai Ping Carpets International Limited announced that Mr. Mark Stuart Worgan, the chief operating officer of the company, is appointed as the Chief Executive Officer of the company with effect from 1 January 2018, succeeding Mr. James H. Kaplan who will be retiring as CEO with effect from 1 January 2018. Mr. Worgan joined the company in 2008 as vice president of operations and was promoted to the COO since 2013. Upon the effective appointment of Mr. Worgan as CEO, the existing service contract of Mr. Worgan as the COO will terminate and an employment agreement for the position as CEO will become effective.