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The Financial Secretary has re-appointed Mr Marvin Cheung and appointed Messrs Stephen Hui and Michael Lee as members of the Board of the Hong Kong Exchanges and Clearing Limited (HKEx) for a term of two years from today (April 23) until the end of the Annual General Meeting of the HKEx in 2011.
Announcing the re-appointment and new appointments, the Financial Secretary, Mr John C Tsang said, "Appointments to the Board of HKEx are an important safeguard of the interest of the public. Messrs Cheung, Hui and Lee are well-respected and experienced figures in the financial services sector."
Mr Cheung is the former Chairman and Chief Executive Officer of KPMG Hong Kong. He has been a non-official member of the Executive Council since 2005.
Mr Hui is the Chief Executive Officer of OSK Holdings Hong Kong Limited. He has been a member of the Listing Committee of the Stock Exchange of Hong Kong Limited (the Exchange) since 2003.
Mr Lee is the Managing Director of MAP Capital Limited. He was a member of the Listing Committee of the Exchange from 2004 to 2007.
The Board of HKEx comprises a maximum of six directors elected by shareholders, the Chief Executive of HKEx, and a maximum of six directors appointed by the Financial Secretary.
The other incumbent directors appointed by the Financial Secretary are Mr Ronald Arculli, Mrs Laura Cha and Mr Moses Cheng.
"We trust that all the directors will work closely together in the best interest of both HKEx and the public," Mr Tsang said.
"We are also most grateful to Mr Henry Fan and Mr Fong Hup, who will retire from the Board of HKEx after its Annual General Meeting today, for their dedicated services and invaluable counsel to HKEx in past years. We shall continue to count on their support for the future development of the securities and futures market of Hong Kong," Mr Tsang added.
The re-appointment and 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 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/Thursday, April 23, 2009
Issued at HKT 18:51
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