7 Nov 2014 15:23
For immediate release 7 November 2014
MILLENNIUM & COPTHORNE HOTELS PLC
Appointment of Group Chief Executive Officer
Millennium & Copthorne Hotels plc ("M&C") is pleased to announce that Mr. Aloysius Lee Tse Sang will join M&C as the next Group Chief Executive Officer ("CEO") in succession to Mr. Wong Hong Ren. It is anticipated that Mr. Lee will assume the role of CEO and join the Board of Directors of M&C on 1 March 2015, after serving as CEO designate from 1 February 2015. It is further anticipated that Mr. Wong will continue in his present management role until 28 February 2015, when he will step down as CEO and from the Board.
Mr. Lee's management career spans the Leisure, Information Technology/Telecommunications and Real Estate sectors. He is currently CEO of South Beach Consortium Pte Ltd., a joint venture established by City Developments Limited and other parties to create a mixed use real estate development in Singapore, which is scheduled to be completed in 2015. Prior to that, Mr. Lee held senior leadership positions at a number of companies, including one of China's leading real estate groups, Shui On Land, Hong Kong Telecom, Star Cruises and Singapore Airlines. He is a Fellow of the Chartered Management Institute and a Fellow of the Chartered Institute of Marketing, and holds management qualifications from Harvard University, the University of Hong Kong and the University of Hawaii.
M&C Chairman Mr. Kwek Leng Beng said, "On behalf of the Board, I welcome Aloysius Lee to the Group. His long and distinguished career in real estate, hospitality and technology makes him an ideal CEO for M&C. I would like to thank Wong Hong Ren for his dedication to the Group, his work as CEO and his contribution as a Director for many years, during which time he has been instrumental in developing and executing key elements of Group strategy. We wish him well for the future."
Details of the transition arrangements, including remuneration terms, will be disclosed as they are finalised. It is expected that these will be in accordance with the Group's stated remuneration policy.
Pursuant to Listing Rule 9.6.13, it is confirmed that Aloysius Lee Tse Sang was a Director of Shui On Land Limited, which is listed on the Hong Kong Stock Exchange, between October 2008 and December 2009.
Enquiries: +44 (0)20 7872 2444
Jonathon Grech, Company Secretary
Peter Krijgsman, Financial Communications (Media)