HKBN Reshuffles Leadership After China Mobile Offer Turns Unconditional

MT Newswires Live

Sep 08

HKBN (HKG:1310) announced a sweeping leadership overhaul following China Mobile Hong Kong's takeover becoming unconditional, according to a Sunday joint Hong Kong bourse filing.

Chief Executive Officer and Executive Vice-Chairman Chu Kwong Yeung resigned effective Sept. 5, stepping down after two decades at the firm.

Ling Hao, Chairman of China Mobile Hong Kong, has been appointed chairman of HKBN, while Li Xin was named CEO and an executive director.

Cordelia Chung stepped down as chairman but remains an independent non-executive director.

Lei Liqun and Luo Weimin also joined the board as executive and non-executive directors, respectively.

Several changes were also made to board committees, with new appointments across the nomination, risk, remuneration, audit, and ESG panels.

China Mobile Hong Kong, a unit of China Mobile (HKG:0941, SHA:600941) and parties acting in concert hold a total of about 1.05 billion shares, or 70.7% of HKBN's total issued capital.

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