20
September 2024
STANDARD CHARTERED
PLC
ANNOUNCES CHANGES TO ITS
BOARD
Standard Chartered PLC (the
"Company") today announces changes to its Board.
Mr
Lincoln Leong Kwok-Kuen (aged 63)
has been appointed as an independent non-executive director of the
Company with effect from 2 November 2024.
Lincoln is a Chartered Accountant
with experience in commerce and investment banking and a deep
understanding of, and connection with, the Hong Kong market.
Lincoln is the former Chief Executive Officer of MTR
Corporation Limited and has held a range of senior roles within
private equity and investment banking including as a partner at
Capital Z Asia Limited, Senior Vice President of Investment Banking
at Lehman Brothers Asia and head of Corporate Finance at Schroders
Asia.
In addition to his executive
leadership experience, Lincoln has significant board and committee
experience as an independent non-executive director of both private
and publicly listed companies. He is an independent non-executive
director of Standard Chartered (Hong Kong) Limited, China Resources
Land Limited and SUNeVision Holdings Ltd, as well as a
non-executive director of Hongkong Land
Holdings Limited. Lincoln will retire from his position at
SUNeVision Holdings Ltd on 1 November 2024, ahead of joining the
Company. Previously Lincoln was a non-executive director of
Jardine Strategic Holdings Limited and Mandarin Oriental
International Limited and an independent non-executive director of
Link Asset Management Limited (manager of the listed Link Real
Estate Investment Trust).
On appointment, Lincoln will join
our Audit Committee.
José Viñals, Group Chairman said:
"We are delighted to welcome Lincoln to the Standard Chartered
Board. As a highly respected member of the business and financial
community of Hong Kong, he brings a wealth of board and executive
expertise and understanding of one of our most important markets.
We look forward to benefiting from Lincoln's contributions at the
Board and Committee discussions.
Lincoln Leong said:
"I
am most honoured to be appointed to the Standard Chartered Board
and very much look forward to working with José, fellow board
members and Standard Chartered colleagues across the
Group"
ENDS
For further information, please
contact:
Shaun Gamble
Shaun.Gamble@sc.com
+44 7766 443662
Additional Information:
Remuneration statement in relation to Lincoln Leong
The independent non-executive
directors do not participate in any of the Company's incentive
arrangements. As an independent non-executive director, Lincoln
Leong will have a contract for services with the Company.
Lincoln Leong will receive a fee of GBP115,000 per annum for
his services as an independent non-executive director, with
additional fees of GBP40,000 per annum as a member of the Audit
Committee, pursuant to the Directors' remuneration policy. This is
disclosed in accordance with the Rules Governing the Listing of
Securities on the Stock Exchange of Hong Kong Limited (the "Hong
Kong Listing Rules").
Additional information - Lincoln Leong
Lincoln Leong has no relationship
with any other Director, member of senior management or substantial
or controlling shareholder of Standard Chartered PLC.
Lincoln Leong currently holds 13,369
shares in the Company. Lincoln Leong's appointment as a Director of
the Company is subject to annual re-election by shareholders and
election at the 2025 AGM.
Save as disclosed above, there is no
other information to be disclosed under the requirements of UK
Listing Rule 6.4.8 (1-6) and Rule 13.51(2) of the Hong Kong Listing
Rules in relation to Lincoln Leong's appointment.
Lincoln Leong has
confirmed:
·
his independence as regards each of the factors
referred to in Rule 3.13(1) to (8) of the Hong Kong Listing
Rules;
·
that he does not have any past
or present financial or other interest in the business of the
Company or its subsidiaries or any connection with any core
connected person of the Company; and
· that there are no other factors that may affect his
independence at the time of his appointment.
Standard Chartered
We are a leading international
banking group, with a presence in 53 of the world's most dynamic
markets and serving clients in a further 64. Our purpose is to
drive commerce and prosperity through our unique diversity, and our
heritage and values are expressed in our brand promise, here for
good.
Standard Chartered PLC is listed on
the London and Hong Kong Stock Exchanges.
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