Brian Stevenson becomes 22nd Chairman of The Hong Kong Jockey Club; Eric Li joins Board of Stewards

31 August 2010

Following the Annual General Meeting of The Hong Kong Jockey Club today (31 August), the new Board of Stewards elected Mr T Brian Stevenson, SBS, JP as Chairman of the Club for 2010/11 and Dr Simon S O Ip, CBE, JP as Deputy Chairman.  Mr Stevenson (please see biography attached) succeeds Dr John C C Chan, GBS, JP, who did not seek re-election to the Board after 17 years as a Club Steward, the past four years as Chairman.

Earlier, Voting Members at the Club's 2010 AGM elected Dr Eric Li Ka Cheung, GBS, OBE, JP to the Board of Stewards to fill the vacancy created by Dr Chan's retirement, and also re-elected four Stewards who retired by rotation, namely Dr Donald K T Li, JP, Mr Philip N L Chen, SBS, JP, Mr Stephen Ip Shu Kwan, GBS, JP and Dr Rita Fan Hsu Lai Tai, GBM, GBS, JP.  Dr Eric Li will serve as a Steward until the 2011 AGM while Dr Donald Li, Mr Chen, Mr Ip and Dr Fan will serve three-year terms until 2013.

Dr Eric Li (detailed biography attached) brings to the Board of Stewards extensive business experience in the accountancy, banking, real estate, retail, telecommunications and transportation fields, as well as an outstanding record of public service.  He is a member of the 11th National Committee of the Chinese People's Political Consultative Conference and was a Hong Kong legislator from 1991 to 2004.  He is current Chairman of the Hong Kong Sports Institute and a former Chairman of the Commission on Youth and Hong Kong Council of Social Service.

Speaking after the initial Board meeting, new Chairman Brian Stevenson paid warm tribute to his predecessor, commenting that "he will be a hard act for me to follow".

"John Chan has worked tirelessly for the benefit of the Club and the community during his 17 years on the Board of Stewards and his dedication to serving the community really knows no bounds," Mr Stevenson said.  "In particular, during his past four years as Chairman, he has seen the Club safely through a difficult period of economic challenge, and was a driving force in making it possible for Hong Kong to host the equestrian events of the Beijing 2008 Olympics and Paralympics, a history-making event for the Club and Hong Kong.

"John has also got the Club's plans to revitalise racing off to a very strong start, with the Conghua Training Centre project and the Racecourse Master Plan being formulated and endorsed under his watch.  These projects will serve as testimony to his contribution long into the future."

Mr Stevenson added that besides being new Chairman of the Club itself, he saw his role as Chairman of The Hong Kong Jockey Club Charities Trust as equally important, as "our support for community and charitable projects is at the heart of everything we do".  Last year, he noted, the Club's total contribution to the community exceeded HK$16 billion, including charity donations of more than HK$1.5 billion and payments of some HK$14 billion in betting duties and taxes over the full racing season, both new records.  The Club was also one of Hong Kong's largest employers and last year created some 4,000 much-needed new jobs.

"It is important to emphasise that our sporting and community roles are inseparably related," Mr Stevenson observed.  "Without the success of our horse racing and football betting operations, none of our community contributions would be possible.  However, competition in the leisure and entertainment market is growing all the time.  If we are to maintain our charitable donations at similar high levels in the coming years, which is my earnest hope, we must ensure that our business remains competitive in the market and sustainable.

"It is clearly much better that we try to keep local residents' spending on betting in Hong Kong as far as possible, and direct them through a legal and responsibly-run channel that returns the proceeds to society.  I hope the community will understand this and give the Club their full support.

"For our part, we are strongly committed to the further development of our world-class racing product, and to making the Club more cost-effective and more customer-centric, so that we can return maximum benefit to Hong Kong," Mr Stevenson said.  "I look forward to a very exciting year ahead."

The Hong Kong Jockey Club

Founded in 1884, The Hong Kong Jockey Club has become one of Hong Kong's best known and respected organisations, providing the public with world-class sporting entertainment as well as being the city's major non-Government community benefactor, now donating more than HK$1 billion a year to charitable and community projects.  It has been a part of Hong Kong through good times and bad, sharing the city's growth and development with its people, and is dedicated to enhancing the quality of life for future generations.