Hang Lung Appoints 蔡德粦 as CEO, Effective October 1

Hang Lung Group (00010) and Hang Lung Properties (00101) announced the appointment of 蔡德粦 as Chief Executive Officer and Executive Director, effective October 1. 蔡德粦 will succeed 盧韋柏, who will continue serving as CEO and Executive Director until September 30. The leadership transition follows 盧韋柏’s eight-year tenure leading the property developer. 蔡德粦, 56, brings over 30 years of experience in Asia’s retail and commercial management sectors, currently serving as CEO of Toys ‘R’ Us Asia and previously holding the CEO position at Starbucks China for over a decade. The appointment reflects Hang Lung’s strategic focus on deepening stakeholder connections and expanding its business footprint across its property portfolio.

蔡德粦 Joins Hang Lung as CEO-Designate on September 7

蔡德粦 will join Hang Lung on September 7 as CEO-designate and Executive Director before formally assuming the CEO role in October. The incoming CEO is recognized as a seasoned business leader known for driving corporate transformation and innovation. His current role as CEO of Toys ‘R’ Us Asia follows a tenure at Starbucks China, where he served as CEO and held multiple senior management positions for over ten years, driving innovation and supporting the brand’s rapid expansion. Earlier in his career, 蔡德粦 established a leadership foundation at PepsiCo and Procter & Gamble Greater China, driving business growth through strategic vision and consumer insights.

New CEO Expresses Commitment to Hang Lung’s Development

蔡德粦 stated he is honored to join Hang Lung, describing the company as a robust enterprise continuously expanding its business footprint while adhering to the philosophy of “only the best, only the right.” He noted that Hang Lung continues to bring far-reaching benefits to communities. The new CEO expressed his anticipation of working alongside the excellent team to deepen connections with stakeholders, tenants, and customers, expand influence, and drive Hang Lung’s next phase of development.

Chairman 陳文博 Thanks Outgoing CEO 盧韋柏 for Eight-Year Tenure

Hang Lung Chairman 陳文博 stated the company is delighted to welcome 蔡德粦 as CEO. He described the appointee’s track record in driving business growth and pursuing excellence as outstanding, making him the best candidate to lead Hang Lung into a new chapter. The Board of Directors looks forward to working closely with him and believes Hang Lung will flourish under his leadership. 陳文博 also expressed heartfelt gratitude to outgoing CEO 盧韋柏, noting that his remarkable achievements and significant contributions over the past eight years have laid a solid foundation for the company’s continued future development.

FAQ

When does 蔡德粦 officially become Hang Lung’s CEO?
蔡德粦 officially assumes the role of Chief Executive Officer and Executive Director on October 1. He will join the company on September 7 as CEO-designate and Executive Director.

What experience does the new Hang Lung CEO bring?
蔡德粦 has over 30 years of experience in Asia’s retail and commercial management sectors. He currently serves as CEO of Toys ‘R’ Us Asia and previously held the CEO position at Starbucks China for over ten years. Earlier in his career, he held leadership roles at PepsiCo and Procter & Gamble Greater China.

When does outgoing CEO 盧韋柏 step down from Hang Lung?
盧韋柏 will continue serving as CEO and Executive Director until September 30. He led Hang Lung for eight years before the leadership transition.