Hang Lung appoints Leo Tsoi as CEO and executive director

The Toys “R” Us Asia chief will join as CEO-designate on 7 September before assuming the top role the following month.

Hang Lung Group and Hang Lung Properties have appointed Leo Tsoi Tak Lun as chief executive officer and executive director, effective 1 October 2026.

Tsoi will join the companies as CEO-designate and executive director on 7 September to support the leadership transition.

He will succeed Weber Lo, who will continue serving as CEO and executive director until 30 September. Lo will subsequently become advisor to Hang Lung Chair Adriel Chan for one year from 1 October.

Tsoi, 56, has more than three decades of experience in retail and business management across Asia.

He has served as CEO and board member of Toys “R” Us Asia since April 2023. During his tenure, he implemented an asset-light expansion strategy and accelerated the company’s digital transformation across Greater China and Southeast Asia.

Before joining Toys “R” Us Asia, Tsoi was CEO of Starbucks China and a member of the coffee chain’s Global Executive Leadership Team.

Over more than a decade at Starbucks, he supported the expansion of its China business from approximately 600 to 6,000 stores. He also worked on sustainability initiatives, including plant-based product campaigns and the Greener Store Lab.

Earlier in his career, Tsoi held senior leadership roles at PepsiCo China and Procter & Gamble.

Chan said Tsoi’s experience in driving business transformation and growth positioned him to lead Hang Lung’s next phase.

Tsoi said he would focus on strengthening the company’s relationships with stakeholders, tenants and customers.

Hang Lung Group operates through its subsidiary Hang Lung Properties, managing more than 3.6 million sq m of retail, office, residential and hotel properties across Hong Kong and mainland China.