The board of directors of Kader Holdings Company Ltd. has announced the resignation of Ivan Ting as managing director of the company effective July 12.
Kader Holdings owns model railroad manufacturing company Sanda Kan, as well as the Bachmann, Lilliput and Graham Farish brands.
According to a release from Kader, Ivan Ting, 37, “is taking a period of leave of absence from his executive position” and will continue to be a non-executive director of the company.
He will be replaced by his father, Kenneth Ting, 69, the chairman of the company. The elder Ting had resigned from the post in July 2010 when he became chairman. He’d been managing director since the company’s incorporation in 1989.
Kenneth Ting has been a director of Kader Industrial Company Ltd. since 1971 and was appointed chairman in 1993. He is also an independent non-executive director of Wheelock and Company Ltd. He’s also a director of H.C. Ting’s Holdings Ltd., a substantial shareholder of Kader Holdings.
Ivan Ting was appointed managing director of Kader Holdings in July 2010, after becoming an executive director in 2006. He has been an executive director of Kader Industrial Company Ltd. since 1998. He also serves as director of other subsidiaries of the company and is currently vice chairman of the Hong Kong Exporters’ Association.
Sanda Kan, one of the largest model railroad manufacturing companies in the world, made news in June 2010 when it abruptly ceased manufacturing for numerous hobby brands. The decision, coupled with other manufacturing issues in China and the economy, have affected production schedules and supply in model railroading ever since.