The board of directors of Li & Fung Limited announced that Mrs. Margaret Leung Ko May Yee has been appointed as an Independent Non-executive Director and a member of the Audit Committee of the company with effect from April 1, 2013. Mrs. Leung, aged 60, was the vice-chairman and chief executive of Hang Seng Bank Limited, chairman of Hang Seng Bank (China) Limited, a director of various subsidiaries of Hang Seng Bank Limited, a director of The Hongkong and Shanghai Banking Corporation Limited and the Group General Manager of HSBC
Holdings plc prior to her retirement from the HSBC group in June 2012 after 34 years of services. The aforesaid entities of the Hang Seng group and HSBC are subsidiaries of HSBC Holdings.
HSBC Trustee (C.I.) Limited is the trustee of a trust established for the benefit of the family members of Dr. Victor Fung Kwok King, the Honorary Chairman of the Company, and HSBC Trustee is a wholly-owned subsidiary of HSBC Holdings. As at the date hereof, King Lun Holdings Limited is directly and indirectly interested in approximately 28% in the Company. King Lun Holdings Limited is owned as to 50% by HSBC Trustee and as to 50% by Dr. William Fung Kwok Lun. Mrs. Leung is currently an independent non-executive director of First Pacific Company Limited and Sun Hung Kai Properties Limited. She was an independent non-executive director of Swire Pacific Limited (2008-2012) and Hutchison Whampoa Limited (2009-2012).