Press Release

Octopus Appoints New Chief Executive Officer

(Hong Kong, 21 July 2023) The Board of Octopus Holdings Limited (OHL) today announced the appointment of Mr Tim Ying as the Chief Executive Officer (CEO) of the Octopus group (Octopus). Mr Ying will join Octopus on 1 August 2023 and assume the role of CEO on 1 October 2023. Mr Angus Lee, current CEO, will support Mr Ying in his transition before returning to MTR Corporation to take up another management position.

Mr Ying is an experienced executive in the digital payment space. He has 20 years of experience in the banking and payments industries. Prior to joining Octopus, he was General Manager of Digital Experience at Cathay Pacific Airways. Mr Ying also worked in a few management positions in HSBC, and his last position in HSBC was Chief Product Officer of Digital Wallet, PayMe.

“With the growth of digital payments and customers increasingly driven by value and convenience, Octopus is investing to strengthen its online and digital capabilities to harness these new opportunities. With Mr Ying’s extensive experience in digital payments and user experience design, the Board is confident that he will effectively lead the team to transform Octopus from a transactional platform to becoming the most preferred digital channel for payments and customer engagement in the near future,” said Ms Jeny Yeung, Non-executive Chairperson of OHL.

Mr Ying remarked, “Octopus is the most well-known, home-grown payment solution in Hong Kong and is part of our everyday lives. I am honoured that I have the opportunity to contribute to Octopus’ continued success. With the context that Hong Kong is moving to a cashless society, I am excited to be able to leverage my experience in the digital payment sector to further the Company’s mission of Making Everyday Life Easier through innovative payment solutions.”

Ms Yeung thanked Mr Angus Lee for his remarkable efforts and significant achievements during his 4-year tenure at Octopus. “Under Mr Lee’s leadership, Octopus usage has reached record highs, while Mobile Octopus has also achieved high penetration and admirable success. He was instrumental in the development and launch of a number of innovative projects including the Easy Earn loyalty scheme and the Easy Park free-flow car park solution. The Board of the Octopus Group expresses appreciation for his dedication and wishes him very best in his next endeavour,” said Ms Yeung.

 

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