Michael Tien
Michael Tien, a businessman, was subsequently appointed as the chairman, with the former chairman and chief executive, K Y Yeung, stepping down to become the CEO. It rapidly became publicly evident, however, that there was personal tension between the two, exemplified by Michael Tien's denial that he was a good friend of K Y Yeung when the two briefed the media in 2002 on the findings of the investigation into the Siemens incident. (The investigation dealt with the payment of an additional HK$100 million to Siemens under a supplementary agreement to the telecommunications contract for the West Rail project, and the interaction between the managing board and the executive management team.)