HKBN announces new additions to its senior management team

HKBN announces new additions to its senior management team

HKBN has appointed William Yeung, as its new executive vice-chairman and NiQ Lai as its new CEO effective as of 1 September 2018.

Yeung was formerly the chief executive officer (CEO) and an executive director of the company, as Lai fills his previous position of CEO. Lai was previously chief operating officer and an executive director at the company. The new promotions are a part of the company’s wider strategy for sustainable development.

“William and NiQ have successfully led HKBN's team of Talents for over 12 years and the board of directors is excited to support this natural evolution. We welcome William's expanded role as the executive vice-chairman and congratulate NiQ on his succession. We look forward to NiQ's continued leadership as the company's CEO and are highly confident that he will continue to drive innovation and competition to the benefit of our customers and shareholders," said Bradley Horwitz, chairman and independent non-executive director of HKBN.

NiQ joined HKBN in 2004 and was appointed as chief financial officer in 2006, and an executive director in 2014 and the chief operating officer in 2017 respectively. As a fellow co-owner, NiQ has been closely working with Yeung since 2005, and together have led the company from the management buy-out in May 2012 to IPO in Hong Kong in March 2015, and the New World Telecom acquisition in March 2016.

In a joint statement William and NiQ said: "We have been working closely for well over a decade and we happily share the same conviction with regard to our company's core purpose to 'make our Hong Kong a better place to live.' We are both fully committed to doing our best to lead HKBN, together with our co-owners, towards achieving our co-ownership III aspiration goal of HK$2.1 to HK$2.4 adjusted available cash per share for the period FY18-20."

Yeung has spent also 10 years in his current position and in his new role will focus on engaging key strategic partners and exploring new business opportunities for HKBN, all while reporting directly to the board of directors; while NiQ, in his new role as the CEO, will take over operational leadership of HKBN, while maintaining his directorship on the board as an executive director.

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