|Hong Kong, March 22, 2010 – The Board of Directors of SCMP Group Limited announces today the appointment of Dr. Fred Hu Zu Liu as an Independent Non-executive Director of the Company with effect from 23 March 2010. Dr. Hu has also been appointed as a member of the Strategy Committee of the Company with effect from the same date.
Dr. Hu, aged 47, is currently the Chairman of Greater China at Goldman Sachs. Before joining Goldman Sachs in 1997, Dr. Hu was a staff member at the International Monetary Fund (IMF) in Washington D.C., U.S.A., where he was engaged in macroeconomic research and policy consultation for a number of member country governments including China.
Dr. Hu has advised the Chinese government on a number of economic policies and has worked closely with China’s leading companies, including Bank of China, Bank of Communications, ICBC, Ping An and China Development Bank, on setting various business strategies. He is also a member of the Strategic Development Committee chaired by the Chief Executive of the Hong Kong Special Administrative Region. On the academic side he served as co-director and professor at the National Center for Economic Research (NCER) at Tsinghua University. Dr. Hu is also a member of the editorial board for several academic journals, including the International Economic Review, and is a columnist for Caijing, China’s leading financial and business magazine.
Dr. David J. Pang, Chairman at SCMP Group Limited, said: "SCMP is delighted to welcome Dr. Hu to the Board. Dr Hu is an extremely knowledgeable and experienced business leader in both Greater China and internationally. As a member of the Strategy Committee, his knowledge and insights into China will add a depth of perspective at both a strategic and practical level. I am confident that Dr Hu will make a valuable contribution to the existing board and help to drive growth for our business. We all very much look forward to working with him."
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