Press Release

Octopus Appoints New Chief Executive Officer

(Hong Kong, 17 August 2020) The Board of Octopus Holdings Limited (OHL) today announced the appointment of Mr Angus Lee as the Chief Executive Officer (CEO) of the Octopus group, effective 1 September 2020. The Hong Kong Monetary Authority has given consent under Section 8ZZV of Payment Systems and Stored Value Facilities Ordinance (Cap.584).

Mr Angus Lee, Chief Growth Officer of OHL, will succeed current CEO Mr Sunny Cheung who is retiring on 31 August after having served almost nine years in the organisation.

Mr Lee is a proven executive with over 22 years of deep experience in general management, organisational strategy and railway operations. Immediately prior to joining OHL, he was the General Manager of MTR Railway Operations (Macau) Company and had held several senior management positions at MTR Corporation. He has extensive leadership experience managing businesses in Hong Kong and internationally in Sweden, Japan, Beijing and Macau, with astute understanding of culture and consumer behaviour.

"Evolving customer preferences, increased smartphone penetration and the proliferation of innovative solutions are fast transforming the digital payments landscape in Hong Kong and presenting huge opportunities for OHL," said Mr David Eldon, Non-executive Chairman of OHL. "Octopus' strategy is to maintain a safe, convenient and efficient payment platform for the people of Hong Kong for today, and beyond."

"With Mr Lee's leadership qualities and an aspiration to continue to deliver a first class product to the public at large, the Board of the Octopus group is confident that he can continue to drive Octopus' development, as well as see the group through the current unusual and challenging market, and taking the business to the next level," he added.

Mr Angus Lee remarked, "I am honoured and privileged to be appointed CEO of Octopus Holdings Limited, a pioneering company in electronic payments and at the forefront of this fast transforming industry. I am looking forward to working closely with the dynamic team, along with our shareholders and stakeholders to take advantage of the market opportunities ahead, while continuing to strengthen Octopus' roles and vision in serving the greater community."

Incumbent CEO Mr Sunny Cheung retook the helm of Octopus in January 2015 for a second term, where the franchise grew from strength to strength under his leadership, leading to new milestones such as the Public Transport Fare Concession Scheme and Public Transport Fare Subsidy Scheme in conjunction with The Government of the HKSAR; and strategic partnerships with Apple and Samsung in creating the virtual Octopus.

In commending the significant achievements of Mr Cheung, Mr Eldon said, "Mr Cheung's outstanding leadership qualities and his passion for work and ethics have been instrumental in driving the business expansion of OHL, with the launches of many revolutionary products and services. He has built a strong leadership bench that is ready to further drive digitalisation and inclusive technology into the future. We would like to express our heartfelt appreciation to Mr Cheung for his dedication and valuable contributions to the Octopus group over the past years and wish him the very best in his retirement."

 

Photo Caption

Mr Angus Lee

 

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