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The Chief Executive has approved Mr Chow Chung-kong's appointment as Chairman of Hong Kong Exchanges and Clearing Limited (HKEx) with immediate effect.
The approval was made under the Securities and Futures Ordinance (SFO). Mr Chow's chairmanship will coincide with his term of appointment as a Director of the HKEx Board, which will expire at the end of the 2014 Annual General Meeting of HKEx.
Mr Chow was elected as Chairman of HKEx by the directors at a board meeting on April 24, 2012. Section 69(1) of the SFO provides that no person shall be the chairman of a company that is a recognised exchange controller unless he has the approval in writing of the Chief Executive. By virtue of Schedule 10 of the SFO, HKEx is deemed to have been recognised as an exchange controller under section 59(2) of the SFO.
Announcing the approval today (April 27), the Financial Secretary, Mr John C Tsang said, "We are confident that with Mr Chow's leadership, HKEx will strive to further enhance our market quality and competitiveness, and strengthen our position as the premier capital formation centre in the region."
Mr Chow was appointed by the Financial Secretary as a director to the Board of HKEx earlier this month for a two-year term under the SFO.
Ends/Friday, April 27, 2012
Issued at HKT 17:56
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