From correspondents in Delhi, India, 10:27 PM IST
A new Chairman and Vice-Chairman of the International Chamber of Commerce (ICC) were elected Friday, 13 June at themeeting of ICC's World Council, which brought together over 130 of its businessmembers from 57 countries.
Hong Kong businessman Victor Fung to become ICC Chairman
Victor Fung, theChairman of the Li & Fung Group of companies, becomes the first ICC Chairman from Hong Kong. The ICC, whose secretariat is based in Paris, is the voice of world business, championing the global economy as a force for economic growth, job creation and prosperity. Its activities cover a broad spectrum, from arbitration and dispute resolution to making the case for open trade and the market economy system, business self-regulation, fighting corruption and combating commercial crime.
“With the global economy facing numerous inter related challenges that are creating worldwide economic uncertainty, therehas never been a greater need for world business to speak loudly and forcefullyin favour of the multilateral trading system,” said Mr Fung. “ICC, which has aworldwide network of experts and works closely with governments and inter governmental organizations, is well-positioned to help find global solutions to these obstacles to economic growth,” he added.
In his address to the ICC World Council, Chairman-elect Fungsaid he also wanted to use his chairmanship toincrease ICC’s visibility in the Asia Pacific region.
Mr Fungwill assume the role of ICC Chairman on 1 July 2008, after having served for 18months as ICC's Vice-Chairman. He willreplace the current ICC Chairman, Marcus Wallenberg,who will become ICC Honorary Chairman.
Mr Fung, who will serve as ICC Chairman for two years, holds a number of civic and professional appointments. He is a member ofthe Chinese People’s Political Consultative Conference, the Hong KongGovernment Commission on Strategic Development, and head of a focus group forthe Economic Summit on China’s11th Five-Year Plan and the Development of Hong Kong, organized by the HongKong Government. He is also Chairman of the Greater Pearl River Delta BusinessCouncil, the Hong Kong University Council, and the Hong Kong-Japan Business Co-operation Committee. As Chairman of theLi & Fung Group, Mr Fung oversees major subsidiaries in trading,distribution and retailing, including publicly-listed Li & Fung Limited,Integrated Distribution Services Group Limited, and Convenience Retail Asia.
Mr Fung has written and spoken widely on international trade matters andis a strong advocate of the multilateral trading system. He has served asChairman of the Hong Kong Trade Development Council, as the Hong Kong representative on the APEC Business Advisory Council, and onthe Informal Business Advisory Body to the World Trade Organization. He hasalso served as Chairman of the Hong Kong Airport Authority.
Born and raised in Hong Kong, Mr Fung holds bachelor’s and master’sdegrees in electrical engineering from the Massachusetts Institute ofTechnology, and a doctorate in business economics from Harvard University.He was a professor at the Harvard Business Schoolfor four years before returning to Hong Kongin 1976.
Rajat Kumar Gupta elected ICC Vice-Chairman
Rajat Kumar Gupta was elected Vice-Chairman of ICC and will also beginhis two-year term on 1 July 2008.
Mr Gupta is the Senior Partner Emeritus of McKinsey & Company. Hejoined the firm's New York office in 1973,assumed leadership of its Scandinavian offices in 1981, and Chicago office in 1989. Mr Gupta served asthe Managing Director Worldwide of McKinsey from 1994 to 2003.
In his 34 year career in consulting, Mr Gupta has served many leadingcompanies on a broad set of topics related to strategy, organization andoperations. He has played a leadership role in organizational thinkingthroughout his career, and led the Organization Practice for McKinsey.
Mr Gupta is an independent Director of Goldman Sachs, Procter &Gamble, AMR Corporation, and Qatar Financial Centre. He also holds leadershippositions in various not-for-profit institutions, including Chairman of theGlobal Fund for AIDS, Tuberculosis and Malaria, Chairman of the India AIDSInitiative of The Gates Foundation, and Chairman of the Public HealthFoundation of India.
Mr Gupta possesses an in-depth knowledge of the United Nations, havingserved as the UN Secretary-General’s Special Advisor on UN Reform.
Mr Gupta said he looked forward to building on ICC's long history ofproviding vital services to business.
"Like ICC's founders, I believe international trade and investment arecritical factors for economic growth and job creation, with importantimplications also for cross-border cooperation," Mr Gupta said.
Mr Gupta holds a bachelor of technology degree in mechanical engineeringfrom the Indian Institute of Technology, and a master’s degree in businessadministration from Harvard Business School.
Current ICC Chairman Marcus Wallenberg will become ICC Honorary Chairman
The Chairman of SEB, Saab and Electrolux, and current ICC Chairman, Marcus Wallenberg, will become ICC Honorary Chairmanon 1 July 2008.
During his term as Chairman, Mr Wallenberg is credited withstrengthening ICC’s three main roles, namely as "the voice ofinternational business", the creator of voluntary rules for the conduct ofinternational business and as a provider of services to international business.
Atthe World Council meeting, Mr Wallenberg said he had been privileged to leadthe ICC, that he looked forward to continuing his work with the organizationand that he was confident the new ICC Chairmanship would ensure ICC continuesto grow in influence and stature.
Most Recent Comments
View all comments »