Directorate Change

RNS Number : 0480H

Jardine Matheson Hldgs Ltd

26 November 2015

 



To:        Business Editor                                                                         For immediate release

Jardine Matheson Senior Management Changes

26th November 2015 - Jardine Matheson Holdings Limited today announced senior management changes that will take place in 2016.  Adam Keswick will move to London as chairman of Matheson & Co. on 31st July 2016, and succeeding him as Deputy Managing Director will be Y.K. Pang.  James Riley will step down as Group Finance Director on 31st March 2016 and be succeeded by John Witt.

Adam Keswick will move to the United Kingdom at the end of July 2016 to be appointed chairman of Matheson & Co., as well as taking on additional responsibilities in the Group's business interests in the UK in due course.  He will continue to interface with Hong Kong and be actively involved with the Group's businesses.  While the requirements of his new role mean that he will no longer be Deputy Managing Director, he will maintain his existing directorships in the Group's principal listed companies.

Succeeding Adam as Deputy Managing Director on 1st August 2016 will be Y.K. Pang, who will move from his current role as chief executive of Hongkong Land.  Y.K. has been a Director of Jardine Matheson since 2011.  He first joined the Group in 1984, and held a number of senior positions before taking up his current role in Hongkong Land in 2007.  Amongst his responsibilities as Deputy Managing Director will be overseeing the strategic development of the Group's interests in mainland China, where the Group now has over US$8 billion invested and offers significant growth opportunities.  Y.K. will join the boards of Jardine Strategic Holdings Limited, Dairy Farm International Holdings Limited and Mandarin Oriental International Limited on 1st August 2016, while also remaining a director of Hongkong Land Holdings Limited.

James Riley is to move from his current position as Jardine Matheson's Group Finance Director on 31st March 2016 to take up the role of group chief executive at Mandarin Oriental International Limited.  James will be replaced by John Witt, who is currently chief financial officer of Hongkong Land.

John Witt is a chartered accountant and first joined the Group in 1993.  He held senior finance appointments in Jardine Motors and Mandarin Oriental before taking up his current role in Hongkong Land in 2010.  He will also join the board of Dairy Farm International Holdings Limited, and it is proposed that he become a commissioner and executive committee member of PT Astra International Tbk.

Commenting on the moves, Jardine Matheson Managing Director Ben Keswick said, "Adam's return to London provides additional depth and expertise in Matheson & Co., while he will continue to be involved fully in the Group's development.  James has been an excellent Finance Director since taking responsibility for the role in 2005, and I wish him every success in Mandarin Oriental."

"Y.K. has participated actively in many of the Group's businesses for many years, and has been closely involved with the Group's development in mainland China over the past decade.  I am sure that he will make a significant contribution in his new role within Jardine Matheson.  I would also like to welcome John Witt to the Board of Jardine Matheson.  He too has much experience in the Group and I look forward to working with him," Ben Keswick added.

Jardine Matheson is a diversified business group focused principally on Asia.  Its interests include Jardine Pacific, Jardine Motors, Jardine Lloyd Thompson, Hongkong Land, Dairy Farm, Mandarin Oriental, Jardine Cycle & Carriage and Astra.  These companies are leaders in the fields of engineering and construction, transport services, insurance broking, property investment and development, retailing, restaurants, luxury hotels, motor vehicles and related activities, financial services, heavy equipment, mining and agribusiness.  Jardine Matheson Holdings Limited is incorporated in Bermuda and has a standard listing on the London Stock Exchange as its primary listing, with secondary listings in Bermuda and Singapore.  Jardine Matheson Limited operates from Hong Kong and provides management services to Group companies.

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For further information, please contact:

Jardine Matheson Limited
Neil M McNamara                                                                                  (852) 2843 8227

Brunswick Group Limited
Karin Wong                                                                                           (852) 3512 5077

This and other Group announcements can be accessed through the internet at www.jardines.com.

 

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