Appointments Represent a Comprehensive Restructuring and
Rejuvenation of Highway Holdings' Board of Directors
HONG
KONG, Feb. 18, 2025 /PRNewswire/ -- Highway
Holdings Limited (Nasdaq: HIHO) (the "Company" or "Highway
Holdings") today announced the appointment of four new directors to
its Board of Directors, filling prior vacancies. The new directors
bring a wealth of experience in multinational business
environments, with expertise in finance, manufacturing,
entrepreneurship, strategy and M&A. The appointments represent
a comprehensive restructuring and rejuvenation of Highway Holdings'
Board of Directors to align with supporting its long-term growth
strategy.
Roland Kohl, CEO and Chairman of
Highway Holdings, commented, "We are very pleased to welcome these
new members to our Board of Directors. This action is part of the
company's ongoing preparation for an upcoming generational
transition. The company is in the process of rejuvenating its Board
and preparing the 35 year old company (29 years on Nasdaq) for a
new era of growth. We sought younger Board members with diverse
experience and perspectives. The appointments are the result of a
comprehensive search to find and attract the next generation of
highly qualified directors with diverse expertise in multinational
industries and markets. We look forward to working with our
strengthened board and benefitting from our new directors'
contributions, new ideas and insight in support of our long-term
growth strategy, as we work to set the Company on a new direction,
to achieve growth in any form – a target which the old company
during the last years was not achieving. We remain committed to
leveraging our resources, extensive business experience, and the
new wealth of knowledge that has joined the company, all with the
goal of creating value for our shareholders."
New Board of Director Appointments:
Patrick Michaels, 49 years
old, has over 30 years of experience in investment banking, wealth
management and strategic advisory. He has served as the Executive
Chairman of Zuri-Invest AG since 2002, while also serving as
Chairman of Asty Capital AG since 1998. Mr. Michaels previously
held positions with UBS AG (Zurich). He studied economics at the
University of Zurich, and
subsequently studied business, civil and criminal law at the same
university, followed by studies at The Colorado School of Mines. Mr. Michaels additionally
serves as a director on the boards of GoldQuest Mining Corp. and
the charitable organization of Cyprus Seeds. Mr. Michaels was
appointed as a Class I director.
Marcus Bagnall, 39 years
old, has over 15 years of experience advising multinational
organizations on complex legal, regulatory and commercial matters,
with a deep understanding of digital transformation, corporate and
M&A, supply chain complexities and managing operational legal
risks. He currently serves as a Partner at Wiggin LLP (London), having previously held positions at
Linklaters LLP (London), Webb
Henderson (Sydney), Australian
Business Lawyers & Advisors (Sydney), and DLA Piper (Sydney). Mr. Bagnall holds a B.Ec/LLB from the
University of New South Wales, a
Graduate Diploma in Legal Practice from the College of Law, and an
LLM (Corporate, Commercial and Taxation) from the University of New South Wales. He currently serves
on the Advisory Board of Eyes of AI. Mr. Bagnall was appointed as a
Class I director.
Annie Leung Hoi Ling, 36
years old, has over 12 years of experience in engineering design,
manufacturing, and operations. She currently runs an OEM factory
she built in 2019 in Vietnam with
over 600 employees. Ms. Leung previously held positions
at Artop Group, Good Mark Industrial Limited and Good Mark
Industrial Vietnam. She received BEng with honors in product
analysis and engineering design from The Hong Kong Polytechnic
University. Ms. Leung was appointed as a Class II director.
Brian Chu Chong Tat, 52
years old, has over 28 years of experience in collaborative
education and entrepreneurship. His dedication to excellence and
commitment to helping students realize their unique strengths has
served as the foundation for a highly successful career. He
currently works at Ng Clan's Association Tai Pak Memorial School,
having previously served at ECF Saint Canaan College. Mr. Chu also
founded a highly successful tennis club on his own initiative, with
approximately 100 active members. Mr. Chu holds a Bachelor of
Education with Honors from Hong Kong Education University. Mr. Chu
was appointed as a Class II director.
Highway Holdings' Board of Directors now consists of 9 highly
qualified members including 2 females, with very diversified
knowledge and know how, with different views and opinions,
well-balanced age groups, and many different nationalities and
cultures, creating a perfect bend between the East and West.
Since the Company intends to expand with additional businesses
other than manufacturing in order to reduce reliance on its
traditional OEM business, it sought to retain such knowledgeable
Board members with numerous new skills and knowledge other than
manufacturing.
About Highway Holdings
Highway Holdings is an international manufacturer of a wide
variety of quality parts and products for blue chip equipment
manufacturers based primarily in Germany. Highway Holdings'
administrative offices are located in Hong Kong and its manufacturing facilities are
located in Yangon, Myanmar and
Shenzhen, China. For more
information visit website www.highwayholdings.com.
Except for the historical information contained herein, the
matters discussed in this press release are forward-looking
statements, which involve risks and uncertainties, including but
not limited to economic, competitive, governmental, political and
technological factors affecting the company's revenues, operations,
markets, products and prices, and other factors discussed in the
company's various filings with the Securities and Exchange
Commission, including without limitation, the company's annual
reports on Form 20-F.
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SOURCE Highway Holdings Limited
