Playmates Toys Limited announced that Mr. 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, Mr. Chan will cease to be the Chairman and a director of the company at the conclusion of the AGM. Mr. Chan has served the company for 50 years and it is his desire to devote more time to other interests after retirement. The board designated Mr. To Shu Sing, Sidney, an executive director of the company, to succeed Mr. Chan as Chairman of the company with effect from the conclusion of the AGM. The board proposed that Mr. Chan Kong Keung, Stephen be appointed as an executive director of the company at the AGM. Mr. Stephen Chan has been a vice president for overseas investments for a fellow subsidiary of the group since 2014. Prior to joining the group, Mr. Stephen Chan worked as a Management Trainee and a Commercial Banking Relationship Manager for an international banking corporation from 2009 until 2013.