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Power Assets Appoints New Group Managing Director

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Power Assets Appoints New Group Managing Director

28 Dec 2012

Mr. Tso Kai-sum will become Non-executive Deputy Chairman and Senior Advisor to the Board of Power Assets Holdings Limited following his retirement as Group Managing Director effective 1 January 2013.

Mr. Tso Kai-sum will become Non-executive Deputy Chairman and Senior Advisor to the Board of Power Assets Holdings Limited following his retirement as Group Managing Director effective 1 January 2013.

Mr. Wan Chi-tin, currently Director of Engineering (Planning and Development) of Power Assets, will succeed Mr. Tso as Group Managing Director.

Mr. Wan Chi-tin, currently Director of Engineering (Planning and Development) of Power Assets, will succeed Mr. Tso as Group Managing Director.

Power Assets Holdings Limited announced today that Mr. Tso Kai-sum has been appointed as Deputy Chairman and Senior Advisor to the Board following his re-designation as Non-executive Director and retirement as Group Managing Director effective 1 January 2013. He will be succeeded as Group Managing Director by Mr. Wan Chi-tin, currently Director of Engineering (Planning and Development) from the same date. Mr. Wan will also take up the post of Managing Director for Power Assets' electricity business in Hong Kong, The Hongkong Electric Company Limited.

Chairman of Power Assets, Mr. Canning Fok thanked Mr. Tso for his long and dedicated service and strong contribution to the Power Assets Group which he first joined in 1966. "Mr. Tso's breadth of experience in commercial and professional expertise is invaluable and most useful to the Group," he said.

"With Mr. Tso's appointment as Non-executive Deputy Chairman and Senior Advisor to the Board, we shall continue to have access to his expertise for guidance," Mr. Fok added.

An electrical engineer by training, Mr. Wan has 40 years of experience in the power industry, both in Hong Kong and overseas. He joined the Group in 1978 as an engineer and rose to the position of Director of Engineering (Planning and Development) in 2008, overseeing corporate development, projects development, system planning, regulatory affairs, environmental affairs and information technology. Between September 2000 and June 2003, he served as Chief Executive Officer of Powercor Australia Limited and CitiPower Pty., associate companies of the Group in Australia where he remains as a director.

Mr. Wan, aged 62, is an Honorary Fellow of the Energy Institute and a Fellow of the Institution of Engineering and Technology. He is also a Fellow and a Council Member of the Hong Kong Institution of Engineers and a member of the Engineers Registration Board of Hong Kong.

"Mr. Wan's vast experience in various positions and knowledge of the businesses and operations of the Power Assets Group make him the ideal choice for the Group Managing Director post. I believe that under his leadership, the Group will keep up with its growth momentum outside Hong Kong while continuing to provide world-class electricity service in Hong Kong," Mr. Fok said.

"I am confident that the experience and expertise of both Mr. Tso and Mr. Wan in their respective new roles will contribute to the continued success of the Power Assets Group, Mr. Fok added.