The board of the Hong Kong Jockey Club (HKJC) will be led by the new governance duo of Michael Lee as Chairman alongside Eric Li Ka Cheung serving as Deputy Chairman.
The appointment follows the restructuring of HKJC Board of Stewards, which saw members elect Lee as new Chairman to lead the corporate oversight of Hong Kong’s monopoly operator for pari-mutuel betting and horseracing.
Lee will succeed Philip Chen, who decided to step down from the board of stewards, choosing to end his 16-year tenure as HKJC advisor.
“Mr Philip Chen provided guidance to the Club at a challenging time,” The board of HKJC commented on Chen’s departure.
“The Club has maintained both its racing and its strong contribution to the community throughout the pandemic. During his tenure Philip was supportive, especially through the launch of the Club’s updated racing and charities strategies, which continue to provide a blueprint for the future development of the Club.”
A figurehead of Hong Kong finance, Lee is the Director of Oxer Holdings Limited and has served as Non-Executive Director of Hysan Development Company Limited and an Independent Non-Executive Director of Chen Hsong Holdings Limited.
Lee has prior experience in sports governance, having served as a strategic advisor to the Hong Kong Paralympic Committee, the Hong Kong Sports Association for the Physically Disabled, the Hong Kong Equestrian Federation and the Sports Commission.
Lee added: “I am truly honoured to take up the leadership of The Hong Kong Jockey Club. With our world-class racing attracting even more fans across the globe and the very bright prospects ahead for the equine industry in the Greater Bay Area, this is a very exciting time for the Club.”