Charles Li not to seek reappointment as HKEX CEO

Maria Nikolova

Charles Li’s current contract is set to end in October 2021.

Mr Charles Li, Chief Executive of Hong Kong Exchanges and Clearing Limited (HKEX), today informed the Board of his intention not to seek reappointment as HKEX Chief Executive at the end of his current contract, in October 2021. Mr Li confirmed his full commitment to continuing to lead the organisation until that date, or earlier, should a successor be appointed before such time.

Charles Li

HKEX says it has established a selection committee, led by HKEX Chairman Mrs Laura M Cha, with HKEX Directors, Mr Apurv Bagri, Mr Benjamin Hung and Mr Rafael Gil-Tienda, to conduct a formal search process.

Laura M Cha, HKEX Chairman, said “I would like to extend my sincere gratitude to Charles for his extraordinary leadership and contribution to the Hong Kong market over the last decade, and to thank him on behalf of the Board, for giving us as much time as possible to ensure a smooth transition. The Board is confident that the succession process will be smooth and orderly and that the Group is on a strong foundation.”

Currently, HKEX’s Board of Directors comprises 11 Independent Non-executive Directors, namely Mrs Laura May-Lung CHA (Chairman), Mr Apurv BAGRI, Mr CHAN Tze Ching, Ignatius, Mr CHEAH Cheng Hye, Ms FUNG Yuen Mei, Anita, Mr Rafael GIL-TIENDA, Dr HU Zuliu, Fred, Mr HUNG Pi Cheng, Benjamin, Mr LEUNG Pak Hon, Hugo, Mr John Mackay McCulloch WILLIAMSON and Mr YIU Kin Wah, Stephen, and one Executive Director, Mr LI Xiaojia, Charles, who is also HKEX’s Chief Executive. In addition, the appointment of Mrs CHOW WOO Mo Fong, Susan as an Independent Non-executive Director of HKEX will take effect following the conclusion of HKEX’s 2020 annual general meeting.

Mr Li has been HKEX’s Chief Executive since January 2010. Prior to joining HKEX, he served as Chairman of JP Morgan China (2003-2009) and president of Merrill Lynch China (1994-2003). Between 1993 and 1994, he was an associate at Brown & Wood, New York. Prior to that, he was an associate at Davis Polk & Wardwell, New York.

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