HNA exec promoted to global role after co-founder’s death

Adam Tan was named chairman of HNA’s international operations

TRD NATIONAL /
Aug.August 02, 2018 11:30 AM

From left: Adam Tan and Wang Jian (Credit: HNA Group and Luo Yunfei/China News Service/VCG)

Chinese conglomerate HNA Group promoted a top executive after the company’s chairman and co-founder died last month.

Adam Tan, HNA’s vice chairman, was named chairman of the company’s international operations, the Wall Street Journal reported. Wang Jian, who died after an accident in France, previously held the role.

Tan became one of the company’s main faces amid the global expansion, as he and Wang were responsible for executing HNA’s global strategy. Tan sought to woo lenders and business partners to continue their relationships with the company — as HNA dealt with scrutiny about its funding and ownership structure, the Journal reported.

There have been other management changes, too. Guang Yang, who ran North America operations, left to work on a new business venture. And Dennis Chen was named HNA’s chief investment officer and executive chairman of its international operations.

The moves come as HNA has sought to shed assets in order to deal with its mountain of debt. Among its real estate holdings, it previously sold its office tower at 1180 Sixth Avenue for $305 million and is selling a controlling stake in 245 Park Avenue, which it bought for $2.2 billion, to SL Green Realty. [WSJ] — Meenal Vamburkar


Related Articles

arrow_forward_ios
A mass timber project in Cleveland is now under construction and could be the nation’s tallest when completed. Harbor Bay Real Estate Advisors’ Intro development will rise nine stories with 298 residential units (Credit: Harbor Bay Real Estate Advisors)

Mass timber project in Cleveland could be nation’s tallest

Mass timber project in Cleveland could be nation’s tallest
Joy Construction’s Eli Weiss (left), Maddd Equities’ Jorge Madruga (top), and Drew Katz (right) with 20 Bruckner Boulevard in the Bronx (Getty; Google Maps)

“Dream” comes true for long-vacant Bronx ice house

“Dream” comes true for long-vacant Bronx ice house
“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space
Photo illustration of Sen. Brian Kavanagh (Credit: Kavanagh by Albin Lohr-Jones/Pacific Press/LightRocket, Getty Images, iStock)

Lawmakers skip #CancelRent in favor of more modest bills

Lawmakers skip #CancelRent in favor of more modest bills
The process for challenging property assessments is so antiquated, officials won’t do Zoom meetings. (iStock)

“A recipe for disaster”: Fighting property taxes in a pandemic

“A recipe for disaster”: Fighting property taxes in a pandemic
Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post)

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts
An institutional investor’s sale of a 7 percent stake in an exchange-traded real estate fund reveals deep concerns about the sector. (Credit: iStock)

Mystery investor dumps big stake in real estate fund

Mystery investor dumps big stake in real estate fund
Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...