Power Assets Holdings Limited announced 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.