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The Financial Secretary, Mr John C Tsang, has re-appointed Mr Chow Chung-kong and Mr Timothy Freshwater as members of the Board of the Hong Kong Exchanges and Clearing Limited (HKEx) for a term of two years from April 16, 2014 until the end of the Annual General Meeting of the HKEx in 2016.
Announcing the re-appointments, Mr Tsang said today (March 14), "Appointments to the Board of the HKEx represent an important safeguard of the interest of the public. Mr Chow and Mr Freshwater are well-respected figures in the financial services sector as well as the wider business community, with excellent records of public services."
Mr Chow has been the Chairman of the HKEx since April 2012. During the past two years, the HKEx, under his leadership, has finalised its strategic plan for 2013-2015 and implemented important initiatives to enhance its competitiveness and promote Hong Kong as a premier capital formation centre.
The Board of the HKEx comprises a maximum of six directors elected by shareholders, the Chief Executive of the HKEx, and a maximum of six directors appointed by the Financial Secretary.
The other incumbent directors appointed by the Financial Secretary are Mr Stephen Hui Chiu-chung, Mr Michael Lee Tze-hau, Mr John Harrison and Mrs Margaret Leung Ko May-yee.
"We trust that all the directors will work closely together to further the development of Hong Kong as a capital raising and risk management platform in the best interest of the public at large," Mr Tsang said.
The re-appointments are made under the Securities and Futures Ordinance. The Ordinance, together with HKEx's Articles of Association, empowers the Financial Secretary to appoint not more than six persons to be members of the Board of Directors of the HKEx where the Financial Secretary is satisfied that it is appropriate to do so in the interest of the investing public or in the public interest.
Ends/Friday, March 14, 2014
Issued at HKT 16:16
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