Deputy Chairman, ESPRIT
Independent Non-Executive Director of Esprit since November 2002; became Deputy Chairman of the Company effective in 2008. Chairman of The Link Management, which manages a portfolio of assets valued at over HK$30 billion. (The privatisation in November 2005 was the world’s largest Real Estate Investment Trust (REIT) IPO).
Active in private equity across Asia, including roles as Chairman of the China High Growth Fund and Vietnam Infrastructure Limited. In Hong Kong, Cheng is Honorary Steward of the Hong Kong Jockey Club, Club, a US$10 billion organization which recycles its profit to charity and community projects.
Past Hong Kong roles also include being Chairman of both the American Chamber of Commerce and the Hong Kong General Chamber of Commerce. Former Chairman of Inchcape Pacific Limited, a major trading conglomerate employing over 6,000 people throughout Asia, and N.M. Rothschild & Sons (Hong Kong) Ltd.
Inditex SA has become the global leader of fast fashion by getting clothing inspired by the runway to its racks in a matter of weeks. Esprit Holdings Ltd., apparently deciding the best way out of a slump was to emulate that strategy, yesterday snagged a key Inditex executive.
Asian stocks fell, dragging the MSCI Asia Pacific Index down the most in almost six months, as the euro declined against the yen on concern measures to reduce fiscal deficits in Europe will hurt economic growth.
The following companies may have unusual price changes in Japanese trading tomorrow. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise.