Hong Kong’s Hang Lung Properties names former Starbucks China head Leo Tsoi as new CEO

Hong Kong's Hang Lung Properties has appointed Leo Tsoi, former head of Starbucks China and CEO of Toys 'R' Us Asia, as its new CEO and executive director. Tsoi will assume his new roles on September 7, succeeding Weber Lo Wai-pak, who is stepping down after eight years at the helm on August 31. Weber Lo, who served the company during challenging times like the Covid-19 pandemic and China's property market downturn, will retire at that time.

Tsoi, 56, boasts over three decades of retail and business management experience across Asia and has been with Toys 'R' Us Asia since 2022, expanding the brand's appeal to the "kidult" segment and turning around business growth in China and Southeast Asia. In a statement, Tsoi expressed his gratitude towards Hang Lung Group, the boards, and particularly Adriel Chan, the chairman who appointed him, stating his excitement to work with the team and strengthen relationships with stakeholders, tenants, and customers.

Chairman Adriel Chan praised Tsoi's track record of driving growth through excellence, and credited Lo for leading the company through tough periods.