Fung named ICC chairman

The International Chamber of Commerce has elected Hong Kong businessman Victor Fung to chairman, effective July 1.

Fung is chairman of the Li & Fung Group of companies and is the first ICC chairman from Hong Kong. Li & Fung has major subsidiaries in trading, distribution and retailing, including publicly listed Li & Fung Ltd., Integrated Distribution Services Group Ltd., and Convenience Retail Asia.

Fung served as the ICC vice chairman for 18 months. He replaces Marcus Wallenberg, who will become ICC honorary chairman.

Rajat Kumar Gupta was elected to ICC vice chairman. He is an independent director for Goldman Sachs, Procter & Gamble, AMR Corp., and Qatar Financial Centre. Prior to that, Gupta served with McKinsey & Co. from 1973 to 2003. He was managing director worldwide for the consulting firm from 1994 to 2003.

Source:Americanshipper