Hang Lung appoints Leo Tsoi as next CEO
SCMP · 1 SOURCESabout 4 hours ago2 MIN
Summary
Hong Kong developer Hang Lung Properties has named Leo Tsoi Tak Lun as its new CEO and executive director, bringing in a senior retail executive from outside the property sector . Tsoi is currently CEO of Toys ‘R’ Us Asia and previously led Starbucks China, and he will join Hang Lung Group and Hang Lung Properties on September 7 as CEO-designate before assuming the top job on October 1 . He will replace Weber Lo Wai-pak, who retires on August 31 after serving as CEO for eight years . The appointment is the first CEO change since Adriel Chan became chairman in 2024, extending a broader leadership transition at the family-controlled group .
Key Points
- Leo Tsoi Tak Lun will join Hang Lung Group and Hang Lung Properties on September 7 as CEO-designate and executive director .
- He is scheduled to formally assume the CEO role on October 1, succeeding retiring chief executive Weber Lo Wai-pak .
- Weber Lo will retire on August 31 after eight years as CEO, ending a period Hang Lung described as challenging .
- Tsoi, 56, currently leads Toys ‘R’ Us Asia and previously served as CEO of Starbucks China after other senior roles .
- Hang Lung said Tsoi has over three decades of Asian retail management experience, including earlier work at PepsiCo and Procter & Gamble Greater China .
Why It Matters
The appointment signals Hang Lung’s willingness to recruit leadership from consumer and retail sectors as Hong Kong and mainland commercial landlords face changing tenant demand and customer expectations . It also deepens the generational and managerial transition under chairman Adriel Chan, following his succession from Ronnie Chan in 2024 . Tsoi’s background in brand building, customer engagement and regional growth may shape how Hang Lung positions its malls and stakeholder relationships in its next phase .