Hopson chairman resigns, daughter to lead Guangzhou developer

Chu Mang Ye has resigned as the chairman and executive director of Hopson International Development Holdings after managing the company since he founded the firm in 1992.

Mang Ye will continue to provide his support and advice to the group in his role as the strategy planning adviser of the company.

His daughter Chu Kut Yung will suceed him. Chu graduated from the Renmin University of China majoring in finance. She joined the group in 2006 and held the position as assistant to president from 2009 to 2011. She was appointed as an executive director of the company in November 2011 and was appointed as the executive vice president of the company in March 2012.  Kut Yung had been the deputy chairman of the company since July 2013 until she was appointed as the chairman of the board.

Recently, Hopson International Development Holdings paid $113.5 million for the vacant lot at 131 East 47th Street, near Rockefeller Center in New York city. The developer plans to rais