The Hong Kong Stock Exchange (00388) will face the end of its senior term next year.
The Zhitong Finance app learned that the Hong Kong Stock Exchange (00388) will face the end of his senior term next year. Among them, the term for the CEO's promotion to the Champions League will expire in May next year. According to a recent report, the Hong Kong Stock Exchange is considering extending the Champions League promotion contract for one year until May 2025. Once the UEFA Champions League promotion does not agree to the relevant arrangements, it will consider using an internal promotion method for the current senior management of the Hong Kong Stock Exchange to take over. The two group co-operating directors, Bonnie Y CHAN (Bonnie Y CHAN) and Wilfred YIU (Wilfred YIU), are seen as popular candidates.
In addition to the CEO, Hong Kong Stock Exchange Chairman Smellen's term ends in April next year. Outsiders are concerned about whether the chairman and CEO of the Hong Kong Stock Exchange will leave in the same year. Sources say that even if the board of directors hopes to make a decision as early as this week to avoid potential challenges caused by uncertainty about future helmsmen, the final arrangements and public bull dates may still be revised due to the latest negotiations.
However, the Hong Kong Stock Exchange still needs to seek approval from the Hong Kong government and the Hong Kong Securities Regulatory Commission for the appointment of the Chief Executive. There are still variables in the final decision. The Hong Kong Stock Exchange, the Hong Kong Government, and the Hong Kong Securities Regulatory Commission did not comment when questioned.
According to reports, the Champions League moved from J.P. Morgan to the Hong Kong Stock Exchange in 2021, but since joining the Hong Kong Stock Exchange, restrictions related to the epidemic in mainland China and Hong Kong have been maintained for a long time, the global interest rate environment has been reversed, the fund-raising performance of Hong Kong's traditional strong IPOs has declined sharply, and the total market value of Hong Kong stocks has recently been surpassed by the emerging Indian market. All of this has left the financial community skeptical about whether it can be renewed.