MMG appoints new chairman, lead independent non-executive director

MMG Limited has announced the appointment of Cao Liang as chairman of the board and the designation of Leung Cheuk Yan as lead independent non-executive director, both effective December 3, 2025. Cao, currently a non-executive director, was re-designated from an executive director to a non-executive director in April 2025 and previously served as executive director and chief executive officer from April 2024 to April 2025. He has nearly 20 years of experience in international mining investment and strategy.

Cao will also serve as a member of the audit and risk management committee and the governance, remuneration, nomination and sustainability committee. Leung Cheuk Yan, an existing independent non-executive director, will assume the role of lead independent non-executive director, a designation introduced in reference to the recently amended corporate governance code effective July 1, 2025. His primary responsibility will be to facilitate and strengthen communication among INEDs, between INEDs and the board, and with shareholders.

The board's composition as of December 2, 2025, includes seven directors: one executive director (Zhao Jing Ivo, CEO), two non-executive directors (Zhang Shuqiang and Cao Liang), and four independent non-executive directors (Dr. Peter William Cassidy, Leung Cheuk Yan, Chan Ka Keung, Peter, and Chen Ying). No changes have been made to the composition of the board committees or the executive committee at this time.