Fixed line operator HKBN revealed that long-time CEO William Yeung will step down from the role in September, and will be replaced by COO and executive director NiQ Lai.
Yeung will assume the role of executive vice chairman of the Hong Kong operator after serving for 10 years as CEO. In his new role he will focus on engaging key strategic partners and exploring new business opportunities for the company.
Lai will meanwhile take over operational leadership of HKBN and will maintain his position on the board as an executive director. Lai joined HKBN in 2004 and was appointed CFO in 2006, an an executive director in 2014 and COO in 2017.
Both executives have committed to fully subscribing to the maximum one year gross salary investment in HKBN's Co-Ownership Plan III, which as approved during the company's most recent AGM in December.
“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,” HKBN chairman Bradley Horwitz said.
“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.”
First published in Computerworld Hong Kong