Hang Lung Group and Hang Lung Properties Name Calson Choi as CEO Effective October 2026

Hang Lung Group Limited and Hang Lung Properties Limited announced on August 7 that they have appointed Calson Choi as an executive director and CEO-designate of Hang Lung, effective September 7. He will officially succeed Philip Lo as chief executive officer on October 1, 2026. Lo will remain executive director and CEO until September 30, after which he will transition to the role of chairman's adviser for a one-year period starting October 1.

Choi, 56, has more than 30 years of leadership experience across the consumer, retail, food and beverage, and toy industries in Greater China and the Asia-Pacific region. He currently serves as chief executive officer and executive director of Toys "R" Us (Asia) Limited, a position he has held since April 2023, during which he has driven the company's transformation in major Asian cities through a focus on the "kidults" segment and an asset-light expansion model. Previously, Choi spent over a decade at Starbucks (China) Limited from 2012 to 2023, becoming CEO and a member of the global executive leadership team in 2021. From 2003 to 2012, he held roles at PepsiCo Greater China for nearly a decade, and earlier in his career he worked at Procter & Gamble in Greater China. He is currently a member of the Toy Industry Advisory Committee of the Hong Kong Trade Development Council and served as an independent non-executive director of PURE Group, a fitness and yoga club operator, from May 2020 to November 2024.

According to the announcement, Choi's appointment has no fixed term. He will receive an annual remuneration of HK$20.52 million, along with a bonus of no less than HK$2.53 million in 2026, with subsequent bonuses to be determined at the board's discretion based on performance. Additionally, Choi will be granted share options to subscribe for 10 million shares in Hang Lung Properties. As of the announcement date, Choi holds no securities interests in Hang Lung companies and has no relationship with any director, senior management, substantial shareholder, or controlling shareholder of the group.