Rajat Kumar Gupta, senior partner emeritus of McKinsey & Company, was elected the chairman of the International Chamber of Commerce (ICC) yesterday.

Gupta will succeed Dr Victor K Fung, chairman of Hong Kong based multinational group Li & Fung, according to an ICC statement.

Stephen K Green, HSBC group chairman, has been made the bodys vice chairman.

The new leaders were elected in the ICCs World Council meeting in Hong Kong, which brought together 80 of the chambers business members from 45 countries.

An Indian national, Gupta resides in the US and held a range of top management posts at McKinsey during his 34 years with the firm.