Saturday, July 4, 2015   

Jay Walder to step down as MTR chief earlier than scheduled
(07-16 16:55)

The MTR Corporation has announced that chief executive Jay Walder will leave his position on August 15, one year earlier than scheduled.
In the statement filed to the stock exchange, the transit operator said that Walder would have only one year left on his contract, which he would not renew.
''During discussion of the First Independent Committee Report today, the Board and Mr Walder mutually agreed that given Mr. Walder would only have been CEO for one more year, it would be beneficial for the Company to be taken forward under a new leadership who can provide commitment to the Company beyond 2015,'' it said.
MTRC said there are no disagreements between the board and Walder and there are no other matters relating to Walder stepping down from his position as chief executive.
Current deputy CEO Lincoln Leong Kwok-kuen will take up Walder's role as the acting chief after Walder leaves. He will manage the company until a new CEO is appointed.
Trading of MTRC stocks will resume tomorrow at 9am. Before suspended, MTRC shares were traded at HK$29.65, down 0.5 percent from yesterday's close.   
Other Hong Kong breaking news:
(MERS virus) Three mores cases test negative (07-03 22:40)
13 illegal workers arrested (07-03 22:37)
Hottest June since 1884 (07-03 22:22)
Macau gambling slowdown will weigh on growth, says Moody’s (07-03 20:39)
A sensory discovery (07-03 19:51)
Summer scoops (07-03 19:39)
(MERS virus) Health chief casts wary eye at Korea infections (07-03 14:49)
Ex-CEO of Gloucester Hotel jailed for graft (07-02 20:27)
Justice secretary heads for Beijing (07-02 20:21)
Detained man dies (07-02 20:17)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.