According to Zhitong Finance App, Quanfeng Holdings (02285) announced that Mr. Michael John Clancy will retire from the position of CEO of Chervon North America, Inc. (“Quanfeng North America”), an indirect wholly-owned subsidiary of the company, with effect from January 1, 2025.

Frank Carroll, former vice president of Quanfeng North America's business development department, will succeed Mr. Clancy as the new CEO of Quanfeng North America. Mr. Carroll has strong leadership experience within the industry and had experience leading sales, marketing, product development, and other functions before taking over overall management responsibilities. The company believes that Mr. Carroll's industry expertise and pursuit of excellence will make him the right person to lead Quanfeng North America Group's North American business.