Yang Huiyan succeeded her father Yang Guoqiang as chairman of the company that he founded, according to a Wednesday filing to the Hong Kong stock exchange, which said the appointment took effect the same day.
Yang, 68, also known as Yeung Kwok Keung in Cantonese, had tendered his resignation from the position of chairman “due to age,” the statement said.
The elder Yang was a farmer and construction worker before he founded Country Garden in 1992. In little more than a decade, he grew the firm into one of the largest real estate developers in the country.
The company boasted a record-setting $1.7 billion IPO in Hong Kong in 2007. Last year, Country Garden was China’s No 1 developer by sales, which reached $67 billion.
The younger Yang has served as a co-chairman of the company since 2018 and jointly managed the day-to-day operations with her father.
(source:BBC)
