Hong Kong Exchanges and Clearing Limited (HKEX) welcomes the Government’s appointment of Laura Cha and Benjamin Hung to its Board of Directors.
The terms of Mrs Cha and Mr Hung will begin at the conclusion of HKEX’s 2018 Annual General Meeting (AGM) and will end at the conclusion of the AGM in 2020.
C K Chow and Tim Freshwater will retire from the Board after the conclusion of the 2018 AGM.
“HKEX is an important cornerstone of Hong Kong’s financial market and it has a pivotal role in the future of Hong Kong's capital market. I look forward to serving on the Board again and working with the other Directors and management to ensure HKEX meets its obligations to the public and delivers value to its shareholders," said Mrs Cha.
"HKEX is a leading exchange group in the world and a pioneer in mutual market connectivity. It is my honour to join HKEX and I will do my utmost to carry out my duties as a Director to contribute to the continued growth and success of HKEX and its markets," said Mr Hung.
“We welcome the return of Mrs Cha and appointment of Mr Hung to the Board. Their strong background in financial services, securities and derivatives markets and corporates will be invaluable in guiding HKEX’s future development,” said HKEX Chairman C K Chow.
“On behalf of HKEX, I would like to thank Mr Freshwater for his significant contributions to HKEX over the last six years,” said Mr Chow.
“I will also be retiring at the end of April. I feel very honoured to have presided over a period of substantial progress in HKEX’s development, helping strengthen Hong Kong’s leadership position as an international financial centre,” said Mr Chow.
HKEX’s Board will meet after April’s AGM to appoint a chairman from its members. Pursuant to Article 109(2) of HKEX’s Articles of Association (Articles) and Section 69 of the Securities and Futures Ordinance, the appointment of HKEX Chairman is subject to the written approval of the Chief Executive of the Hong Kong Special Administrative Region. Pursuant to the Articles, Mr Chow is completing his consecutive six-year term as HKEX Chairman, and he is ineligible for reappointment to that position this year.
Biographical information of Laura Cha and Benjamin Hung is available in a related HKEX announcement.