Mr. Victor Fung assumed the role of Chairman of the International Chamber of Commerce (ICC) on 1 July 2008, after having served for 18 months as ICC’s Vice Chair, said a press release. He replaced Mr. Marcus Wallenberg, who became ICC Honorary Chairman. Mr. Fung was elected as ICC Chairman for a two-year term on June 13 at the meeting of ICC’s World Council held in Stockholm, which brought together over 130 of its business members from 57 countries.

Mr. Victor Fung, the Chairman of the Li & Fung Group of companies, became the first ICC Chairman from Hong Kong. It may be mentioned that Li & Fung Group has major subsidiaries in trading, distribution and retailing, including publicly-listed Li & Fung Limited, Integrated Distribution Services Group Limited, and Convenience Retail Asia. Mr. Fung is also Chairman of the Greater Pearl River Delta Business Council, the Hong Kong University Council, and the Hong Kong-Japan Business Co-operation Committee.

Born and raised in Hong Kong, Mr. Fung holds bachelor’s and master’s degrees in electrical engineering from the Massachusetts Institute of Technology, and a doctorate in business economics from Harvard University. He was a professor at the Harvard Business School for four years before returning to Hong Kong in 1976.