Eric Ma resigns as CEO of New World Development, a company facing a $2.5 billion loss, after two months.

Eric Ma, CEO of Hong Kong property developer New World Development, will step down after only two months in the role, citing personal commitments. The company, which reported a $2.5 billion loss, is now led by Echo Huang Shaomei, an executive director with over 20 years of real estate experience. New World is working to reduce debt through asset sales amid a challenging property market.

November 29, 2024
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