Playmates Holdings Limited announced that Chan Chun Hoo, Thomas Chairman of the company, has decided not to stand for re-election upon expiry of the present term of directorship at the forthcoming annual general meeting of the company to be held on May 18, 2017 Consequently, Chan will cease to be the Chairman and a director of the company at the conclusion of the AGM. Chan has served Playmates Group for 50 years and it is his desire to devote more time to other interests after retirement. The Board designated To Shu Sing, Sidney an executive director of the company, to succeed Chan as Chairman of the company with effect from the conclusion of the AGM. To joined the Group in 1986 and was appointed an executive director of the company in 1997. The company also announced that subject to the approval by the shareholders at AGM, the Board proposed that Helen Chan be appointed as an executive director of the company at the AGM. Helen Chan worked in New York City as a consultant with one of the leading financial consulting firms for two years.