HONG KONG, March 16, 2018 /PRNewswire/ -- Hang Lung Group
Limited (Stock Code: 00010) and Hang Lung Properties Limited (Stock Code: 00101) today announced the appointment of Mr. Weber Lo
Wai Pak as Chief Executive Officer Designate of both companies with effect from May 16, 2018
(Wednesday). Mr. Philip Chen Nan Lok, the current Chief Executive Officer, will retire on
July 16, 2018 (Monday). On the same day, Mr. Chen will be appointed as Adviser to Chairman and
re-designated as a Non-Executive Director of Hang Lung Properties. With effect from July 16,
2018 (Wednesday), Mr. Lo will succeed Mr. Chen as the Chief Executive Officer of both companies.
Mr. Lo, aged 47 and a graduate of The University of Hong Kong with a Bachelor degree in Social
Sciences, brings with him over 25 years of experience in business management across the banking and fast-moving consumer goods
sectors in Hong Kong and mainland China. Mr. Lo is currently
Citi Country Officer & Chief Executive Officer of Citi Hong Kong and Macau, the highest
ranking officer in the Hong Kong franchise for the global bank, and a role which he has served
since 2013. Mr. Lo has held various senior management roles within the bank since joining Citi in 2000, after several successful
leadership roles in Coca-Cola China Ltd and Procter and Gamble (HK) Ltd.
Mr. Lo said, "I am excited and humbled by this opportunity to serve as the CEO of Hang Lung, a highly respected and successful
company with strong corporate responsibility. I look forward to building upon the strong foundations, and continuing to deliver
sustainable values to all our stakeholders. I would like to thank the Chairman and the Hang Lung Boards for their trust and
confidence, and Philip for bestowing a strong leadership team that will help take the company to a new level of excellence."
Mr. Philip Chen, 62, who has worked in Hang Lung for the last eight years, said, "This is the
best time for my retirement, and I intend to take a break after 41 continuous years of work. It has been a great honor and
pleasure working for Hang Lung. I am enormously grateful to our Chairman Mr. Ronnie Chan and the
two Hang Lung Boards. Looking back over the last eight years, it was a challenging, but also a most rewarding and satisfying
experience. The many achievements at Hang Lung are the results of the efforts of everyone involved. Without their hard work and
dedication, we would not have come this far. I would like to thank all those concerned for their efforts, and wish everyone
continued success and very good luck."
Commenting on the change of CEO, Mr. Ronnie C. Chan, Chairman of Hang Lung, said, "The Boards
of Directors and I are pleased to appoint Weber at this important juncture for Hang Lung. Weber brings a broad skill-set to the
Company, which will help us reach new heights. I know that he will have the full support of the management team, and I look
forward to working closely with him in the coming years.
"On behalf of the Boards, I also thank Philip for his tremendous contributions over the past eight years. This period has been
transformative for Hang Lung, and we are much stronger today than when he joined. Because of Philip's good work, Weber inherits a
great team and strong foundations. We wish Philip a happy and healthy retirement."
Weber Lo Wai Pak
Chief Executive Officer Designate (with effect from May 16, 2018)
Chief Executive Officer (with effect from July 16, 2018)
Mr. Lo has been Citi Country Officer & Chief Executive Officer of Citi Hong Kong and Macau since January 2013. He oversees all businesses across the Citi franchise in the two markets
serving the Institutional Clients Group and Global Consumer Banking. He is a member of the Citi Asia Pacific Operating
Committee, and also the Chairman of Citibank (China) Co., Limited.
Beginning his career in Citi in 2000, Mr. Lo progressed through the ranks in consumer banking before taking up the position of
Chief Operating Officer in 2004, while serving concurrently as the Director of Retail Banking. From October 2007 to December 2012, Mr. Lo was Country Business Manager for Citibank
Global Consumer Banking in Hong Kong and Macau.
Prior to joining Citi, Mr. Lo had held senior leadership positions in Coca-Cola China Ltd and Procter and Gamble (HK) Ltd.
Mr. Lo was named the "Promising Young Banker of the Year for Hong Kong" by The Asian Banker
in 2008 and "CEO of the Year for Banking" in the BENCHMARK Wealth Management Awards 2013 in Hong
Kong.
Mr. Lo actively gives back to the community and the financial services industry by serving in various public service roles,
including: Member of the Board of Inland Revenue, HKSAR Government; Member of the Industry Advisory Committee on Long Term
Business to the Independent Insurance Authority; Member of Hong Kong Strategy for Financial Literacy Steering Committee of
Investor Education Centre; Board of Director and Executive Committee Member of The Community Chest of Hong Kong; Member of The Vice-Chancellor's Circle of University of Oxford; and
Beta Gamma Sigma Lifetime Honoree for The University of Hong Kong Chapter and The Chinese University of Hong Kong Chapter.
SOURCE Hang Lung Properties Limited