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The Financial Secretary, Mr John C Tsang, has re-appointed Mr Stephen Hui Chiu-chung and Mr Michael Lee Tze-hau and appointed Mr John Harrison as members of the Board of the Hong Kong Exchanges and Clearing Limited (HKEx) for a term of two years from today (April 20) until the end of the Annual General Meeting of the HKEx in 2013.
Announcing the re-appointments and new appointment, Mr Tsang said, "Appointments to the Board of HKEx are an important safeguard of the interest of the public. Mr Hui, Mr Lee and Mr Harrison are well-respected and experienced figures in the financial services sector."
Mr Hui is the Vice Chairman of OSK Holdings Hong Kong Limited. He was a member of the Listing Committee of the Stock Exchange of Hong Kong Limited (the Exchange) from 2003 to 2009.
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.
Mr Harrison is a Non-executive Director of BW Group. He was the Deputy Chairman of KPMG International in 2008 to 2010 and the Chairman of KPMG Asia Pacific and KPMG China from 2003 to 2009.
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 Shih May-lung and Mr Moses Cheng Mo-chi.
"We trust that all the directors will work closely together in the best interests of both HKEx and the public," Mr Tsang said.
"We are most grateful to Mr Marvin Cheung Kin-tung who will retire from the Board of HKEx after its Annual General Meeting today, for his dedicated services and invaluable counsel to HKEx in the past six years. We shall continue to count on his support in furthering the development of the securities and futures market of Hong Kong," Mr Tsang added.
The re-appointments and appointment 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/Wednesday, April 20, 2011
Issued at HKT 19:45
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