Hang Lung Group (0010) and its property unit Hang Lung Properties (0101) have appointed former Starbucks China chief executive Leo Tsoi Tak-lun as their new CEO and executive director, effective from October.
Tsoi will join the companies on September 7 as CEO designate and executive director before formally taking on the CEO role in the month after, according to a statement on Friday.
He will succeed Weber Lo Wai-pak, who will serve as advisor to the chair for one year after stepping down from the role in October.
Tsoi, 56, is currently the chief of Toys “R” Us Asia, and a member of the Hong Kong Trade Development Council (HKTDC) Toy Advisory Committee.
Prior to that, he served as CEO of Starbucks China after holding several senior leadership roles, driving innovation and supporting the brand’s rapid expansion over more than a decade. Earlier in his career, he built a strong leadership foundation at PepsiCo and Procter & Gamble Greater China, driving growth through strategic vision and deep consumer insight.
He holds a bachelor of business administration in marketing from The Chinese University of Hong Kong, with a minor in Japanese studies.
“I look forward to partnering with our talented team to strengthen relationships with stakeholders, tenants, and customers, and co-create Hang Lung’s next chapter of growth and impact,” Tsoi said.
Hang Lung is excited to welcome Leo as the next CEO, said chairman Adriel Chan Wen-bwo.
His track record in driving growth through excellence makes him the best candidate to lead Hang Lung into the next chapter, Chan said, as he thanked the retiring Lo for the “significant contributions and achievements over the past eight years.”
