A FORMER employee of Sino-Ocean Group has been appointed as the acting chief executive officer of the trustee-manager of Dasin Retail Trust.

The appointment of 36-year-old Wang Peng was announced by the trustee-manager on Friday (Feb 23) night, a day after the appointment took effect.

This follows the Feb 17 announcement by the trustee-manager that it had given notice of termination to its then CEO, Wang Qiu.

In its Friday night filing, the Dasin Retail Trust Management (DRTM) said that its directors Cao Yong and Zhang Zhencheng (together with his alternate director Zhang Zhongming) disagreed with the other members of the board that Wang Peng should be appointed as acting CEO as they did not agree with the termination of Wang Qiu as CEO.

Wang Peng has held several posts at Sino-Ocean Group in the past decade. His most recent role, from March 2021 to June 2023, was director (investment centre) at Sino-Ocean Group Beijing Development Division.

According to information that DRTM provided in its regulatory filing, Wang Peng holds a master’s degree in construction management from Columbia University and a bachelor’s degree in civil engineering from Tsinghua University.

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He will be responsible for the management and operations of DRTM and will work with the board to determine business strategies and ensure that such strategies are executed.