Ex-top cop in U-turn after landing KMB parent roleTop News | Phoebe Ng 3 Jan 2018
Former police commissioner Andy Tsang Wai-hung is joining the parent company of Kowloon Motor Bus as a director - a role that will provide him with half a million dollars a year.
That goes against the 59-year-old Tsang's declaration before retiring in May 2015 that he would not be entering the private sector.
Transport International Holdings, which owns Hong Kong's largest bus operator in KMB, announced the appointment yesterday in a filing to the stock exchange. Tsang has been appointed a director of the company and of subsidiaries KMB and Long Win Bus.
He will be entitled to an annual fee of HK$324,000 as an independent non-executive director and HK$180,000 as a member of the audit and risk management committee.
In March 2015, a few months before retiring, Tsang said he would not join the private sector, having "no interest" in business or politics given the restraints former government officials face.
"I would love to do more community service and volunteering that pays just a dollar a year," he also said.
That changed in September of 2016 when he was appointed a strategic consultant for Chen Hsong Group, a plastic-injection molding machine maker. But he insisted he was keeping his word about no private sector work as it was just a "consultative role."
Chen Hsong, founded by the father of establishment lawmaker Ann Chiang Lai-wan, paid him HK$100,000 a month.
Tsang started his police career as an inspector in January 1978. He became commissioner in January 2011. A commissioner of police currently makes HK$278,850 a month.
Transportation work appears to suit some retired police bosses.
Among them, Tsang Yam-pui, younger brother of former chief executive Donald Tsang Yam-kuen, joined NWS Holdings, the flagship of New World Development, only six months after quitting the force in December 2003. The company owns New World First Bus and Citybus.
And Andy Tsang's immediate predecessor, Tang King-shing, retired in 2011 and went on to become executive director of Hong Kong Airlines in 2016.
Government guidelines usually require a three-year cooling-off period for directorate-level civil servants before they take up post-service outside work.
Along with Tsang, Cheung Wing-yui and Lee Luen-fai were also appointed directors of Transport International Holdings.
Cheung, 68, is a deputy chairman and non-executive director of SmarTone Telecommunications and vice chairman and non-executive director of SUNeVision.
Lee, 64, is director of public affairs at Sun Hung Kai Properties.