Wan Leader: CEO Transition to Chairman Thomas Loy and Creation of Lead INED Role

Bulletin Express04-30

Wan Leader International Limited disclosed a leadership reshuffle effective 30 April 2026. Chief Executive Officer Mr. Liao Daichun resigned to focus on other business commitments, confirming no claims against the company and no disagreements with the Board.

Chairman Mr. Loy Hak Yu Thomas, aged 55, assumes the CEO post concurrently and remains an executive director, chairman, and nomination committee member. Mr. Loy brings more than 30 years of logistics-industry experience. His service contract continues unchanged, with monthly base pay of HK$0.14 million, mandatory provident fund contributions, and a discretionary performance bonus. He is deemed interested in 200 company shares.

Combining the roles of chairman and CEO deviates from Corporate Governance Code provision C.2.1. The Board states that the consolidation streamlines strategy execution while overall Board composition—two executive directors, two non-executive directors, and three independent non-executive directors—maintains checks and balances.

Separately, independent non-executive director Mr. Wan San Fai Vincent has been designated Lead Independent Director, tasked with enhancing communication among independent directors, the full Board, and shareholders, especially minority investors. The move aligns with the amended Corporate Governance Code effective 1 July 2025.

As of the announcement date, the Board comprises seven directors in total: two executive, two non-executive, and three independent non-executive members.

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