Sir Dickson Poon has retired as group executive chairman and executive director of Hong Kong-listed luxury goods company Dickson Concepts.

Sir Dickson’s decision to retire from his positions took effect at the conclusion of the board meeting held on Monday. He will, however, continue to support the group in a new role of chairman of the investment committee.

Going forward, Sir Dickson will focus on diversification and new investment opportunities for the group, as well as strengthening its relationships with its major partners. He will also serve in an advisory capacity to the group on business matters.

The group said Sir Dickson’s new appointment will help it identify different new strategic investments, which can extend beyond its current scope of business, to pursue growth in a “rapidly changing retail landscape and shifting consumer spending behaviour”.

The group recently reported a 43.5 per cent drop in profit and 19.9 per cent decline in revenue for the year ended March. 

Sir Dickson founded Dickson Concepts 45 years ago and has guided the group’s journey of growth. He has confirmed he has no disagreement with the board and that there is no matter relating to his retirement that needs to be brought to the attention of the shareholders.

Poon Dickson Pearson Guanda, COO and executive director, will take over the running of all of the group’s businesses alongside its day-to-day activities. 

Johnny Pollux Chan, executive director, will take on the role of acting chairman of the group. Chan is also the new chairman of the nomination committee, a position that Sir Dickson has also retired from.