Chief executive of Hong Kong Exchanges and Clearing Limited (HKEX), Charles Li, announced to the Board of Directors that he intends to step down from his position at the end of his current contract in October 2021. Li expressed his full commitment to the organisation until the end of his contract or earlier, if a successor is appointed.

Li is one of the longest serving chief executives of a global financial marketplace. After more than a decade of serving HKEX, he announced he will not be looking for reappointment after the end of his term.

Li started as an oilfield worker in north-eastern China, worked as a journalist and banker before heading Hong Kong stock exchange.

The company has formed a selection committee comprised of HKEX Chairman Laura M Cha as head and HKEX Directors Apurv Bagri, Benjamin Hung and Rafael Gil-Tienda to conduct a formal search process.

Laura M Cha, HKEX Chairman, commented:

I would like to extend my sincere gratitude to Charles for his extraordinary leadership and contribution to the Hong Kong market over the last decade, and to thank him on behalf of the Board, for giving us as much time as possible to ensure a smooth transition.

The Board is confident that the succession process will be smooth and orderly and that the Group is on a strong foundation.

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