Hong Kong Exchange CEO Li to Step Down as Headwinds Mount
- CEO to step down after 10 years at helm of H.K. exchange
- HKEX reports surprise drop in profit in first quarter
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Hong Kong Exchanges & Clearing Ltd. Chief Executive Officer Charles Li said he’s stepping down after 10 years, adding his departure to the rising challenges for the bourse at a turbulent time for the financial hub.
The 59-year-old will continue to lead the exchange until his contract expires in October next year, or leave earlier if a replacement is found, according to a filing. HKEX Chairman Laura Cha praised his leadership and thanked him “for giving us as much time as possible to ensure a smooth transition.”