China-based Concord Medical Services Holdings has announced changes in its management.

Yaw Kong Yap has stepped down from his role as the chief financial officer and president of the company due to reaching retirement age. Yap will continue to advise the company going forward. Boxun Zhang, who previously served as an independent director of the company, agreed to be and was appointed as the successor chief financial officer.

Wayne Yu has agreed to be and was appointed as a new independent director to serve on the Board, effective from September 30, 2022. Yu was also appointed to serve as a member and chairman of the audit committee of the Board and a member of the compensation committee of the Board.

Wayne Yu has served as a professor at City University of Hong Kong since March 2015. Prior to that, Yu worked at The Hong Kong Polytechnic University from September 1999 to February 2015, and at Queen's University from July 1998 to August 1999. In addition, u serves as an independent director for a number of companies listed in Hong Kong and mainland China.

Hongzhong Liu has agreed to be and was appointed as a new independent director to serve on the Board, effective from September 30, 2022. Hongzhong Liu was also appointed to serve as a member of the audit committee of the Board. Liu has served as a professor at Shanghai International Studies University since January 2020. Liu is the vice president of China Society of World Economics and the vice executive secretary of Chinese Association of Asia-Pacific Studies.