Hang Lung Group Limited and Hang Lung Properties Limited (collectively referred to as “Hang Lung”) today announced the appointment of Mr. TSOI Tak Lun, Leo, as Chief Executive Officer (“CEO”) and Executive Director, with effect from October 1, 2026. He succeeds Mr. Weber Lo, who will continue as CEO and Executive Director until September 30, 2026. Mr. Tsoi will join Hang Lung on September 7, 2026 as CEO Designate and Executive Director before formally taking on the CEO role on October 1, 2026.

Mr. Tsoi, aged 56, is a seasoned business leader recognized for his leadership in transformation and innovation, with more than three decades of experience in retail and business management across Asia. Currently he serves as CEO of Toys “R” Us Asia, where he transformed the business through a light-asset model, expanded the brand’s appeal to the kidult segment, and reignited growth across Greater China and Southeast Asia. Prior to that, he served as CEO of Starbucks China after holding several senior leadership roles, driving innovation and supporting the brand’s rapid expansion over more than a decade. Earlier in his career, he built a strong leadership foundation at PepsiCo and Procter & Gamble Greater China, driving growth through strategic vision and deep consumer insight.

Mr. Leo Tsoi said, “I am excited to join Hang Lung, a company whose expanding presence and commitment to ‘We Do It Well’ have made a meaningful impact across the communities it serves. I am grateful to Adriel and the Boards for their trust, and to Weber for laying down such a strong foundation to build upon. As I step into this role, I look forward to partnering with our talented team to strengthen relationships with stakeholders, tenants, and customers, and co-create Hang Lung’s next chapter of growth and impact.”

Mr. Adriel Chan, Chair of Hang Lung, said, “Hang Lung are excited to welcome Leo as our next CEO. His track record in driving growth through excellence makes him the best candidate to lead Hang Lung into our next chapter, and the Boards and I look forward to working closely with him. I am confident that the organization will thrive under his leadership. I would also like to thank our retiring CEO, Mr. Weber Lo, for the significant contributions and achievements over the past eight years; he has put Hang Lung in a position of strength, setting us up for further future success.”

Mr. Weber Lo will serve as Advisor to the Chair for one year beginning October 1, 2026.