HKEX long-time CEO Charles Li Xiaojia to step down; Calvin Tai Chi-kin to succeed
By Chen Ran
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Hong Kong (People's Daily) – The Hong Kong Stock Exchange (HKEX) said on Tuesday that Chief Executive Charles Li Xiaojia was seeking early retirement and will be succeeded by its current Co-President Calvin Tai Chi-kin, effective January 1, 2021.

Li on Monday informed the board of his wish to step down early, after more than a decade as head of HKEX. With the full support and agreement of the board directors, Li will remain his role until the end of 2020.

Following Li’s retirement, Tai, aged 58, will act as Interim Chief Executive of HKEX starting next year, while remaining co-president and chief operating officer of HKEX concurrently. This appointment has been approved in writing by the Securities and Futures Commission.

“Tai’s broad knowledge and thorough understanding of our business, and his commitment to the success of Hong Kong’s financial community are invaluable to us. Under his leadership, HKEX will continue to benefit from strong oversight and execution, and to play a major role in the global economy,” the board said.

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(Photo: VCG)

In a statement, Li expressed his gratitude and appreciation to HKEX. “There is never a perfect time to stand down from a great company such as HKEX, but given the strength of our business as well as our markets, it is now the right time for me to pass the mantle to the next generation of HKEX leaders.”

Tai said that HKEX’s strategy of being “China anchored, globally connected and technology empowered” will continue to be the focus as company looks to drive its growth story. “I would like to personally thank Charles for his leadership and friendship over more than 11 years, and the board, for their faith in me at this important time for Hong Kong and HKEX,” he added.

As one of the world’s major exchange groups, HKEX is the leading IPO market and sole operator in Hong Kong of securities and derivative exchange. It is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.