HNA Group (“HNA”) today issued the following statement regarding the company’s succession and governance following the death of its co-founder and Chairman, Wang Jian:

“HNA Group’s Board of Directors recently met and has reaffirmed its commitment to the orderly continuity of the company’s strategy and operations, under the leadership of Chairman Chen Feng and Chief Executive Officer Adam Tan. The Board has determined that Chairman Chen will assume the duties of Chairman Wang. Adam Tan will continue to serve as Chief Executive Officer.

HNA’s Board and senior management team are comprised of talented individuals with deep global experience, and a long track record of working together successfully. They remain focused on steering the company and its operations through this difficult period.

The disposition of the shares in HNA Group held by Mr. Wang at the time of his death will be addressed in due course, consistent with his pledge to donate them to charity, and in accordance with all applicable legal and regulatory guidelines. HNA Group is committed to providing timely updates, as appropriate, when they become available.”