Thursday, December 18, 2014   

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.   
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