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Colin Powell speaks at Richard Ivey School of Business 10th anniversary celebration in Hong Kong

(November 6, 2008 ¡V Hong Kong) Richard Ivey School of Business celebrated its 10th anniversary on Wednesday, November 5 at the Grand Hyatt Hotel in Hong Kong. With the aim ¡§to develop business leaders who think globally, act strategically, and contribute to the societies within which they operate¡¨, the School has invited an extraordinary speaker to be the keynote for the event.

General Collin L. Powell, USA. (Ret.), former Secretary of State has a solid record of overseeing 28 crisis and the events of September 11, 2001 where he stood with the President and other members of the President's cabinet in fighting the war on terrorism. At Ivey's event, he spoke to over 400 guests on the topic: ¡§Leadership: Taking Charge¡¨.

General Powell began his speech by congratulating the School and thanking Dr. Cheng Yu Tung, founder of New World Development Limited for his contribution to the society.

¡§The fact that one has been blessed with resources and wealth and is willing to give back to the society is the greatest gift he can give,¡¨ he said.

On this historical day when the American people elected their first President who is black, General Powell shared some emotional moments with the audience of how he grew up experiencing the segregation of black people in society. Speaking of President Obama who is today's leader of America, General Powell said he is confident that the new President understands how important it is to reach out to both allies and adversaries as he said, ¡§we cannot be isolated from the rest of the world because we are all connected.¡¨

He also shared with the audience that during his years serving in the army, he learnt that ¡§it is not our color or our race that matters, but our performance¡¨. The future of our world, he said, is shaped by four powerful forces, namely, economics, energy, environment and education. All nations and countries, however, will need to work together on utilizing these forces and creating our future.

¡§I was delighted to have such an amazing leader at our 10th anniversary celebration,¡¨ said Professor Kathleen Slaughter, Associate Dean, Asia, Richard Ivey School of business. ¡§Just as General Powell used diplomacy as a tool, leaders today need to excel at using influence, not control, to lead. As a military leader, he forged alliances between countries to allow societies and cultures to prosper. The Richard Ivey School of Business seeks to build global relationships and prosperous nations through quality business education. General Powell emphasized the need for strong leadership and strong leadership education at this critical time of uncertainty and change.¡¨

At the gala event, Dr. Cheng Yu Tung, founder of New World Development Limited was awarded the Ivey Business Leader's Award. The award celebrates the business leadership of Dr. Cheng and his contributions to the business community throughout Asia, as well as honors his generous support in the establishment of the School's first international campus in 1998, the Cheng Yu Tung Management Institute. His son, Dr. Henry Kar-shun Cheng, an alumnus of the School, has guided the establishment of the Cheung Yu Tung Management Institute here in Hong Kong as Chairman of the Ivey Asian Advisory Board.

¡§I am impressed by the strong emphasis the School put on analysis and communication, as I believe that education is beyond the cultivation of knowledge and should be the platform for open discussion,¡¨ said Dr. Cheng Yu Tung.

The gala dinner was joined by distinguished guests of government officials, business and academic leaders in Hong Kong, including former Executive Chief Mr. Tung Chee Hwa, now Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference; Mr. Norman Chan, Director of Chief Executive Office, HKSAR; Ms. Doreen Steidle, Consul General of Canada; Mr. Joseph R. Donovan Jr., US Consul General; Professor Tsui Lap-Chee, Vice Chancellor of HKU; Professor Lawrence Lau, Vice Chancellor of CUHK; Mr. Vincent H.C. Cheng, Chairman of HSBC; and Dr. Allan Zeman, Chairman of LKF Holding Limited.

Richard Ivey Business School of Business at The University of Western Ontario, Canada was established in 1922. It was the first North American business school to establish a permanent campus - the Cheng Yu Tung Management Institute - in Asia Pacific. In the mid-1980s, the School started to conduct research and case studies in China and is now the largest producer of Asian cases in the world. Cases have been written on companies such as Carrefour China, Hong Kong Disneyland, Hutchison Port Holding, HSBC, ING Insurance Asia Pacific, Ocean Park Hong Kong and Intel.

The Cheng Yu Tung Management Institute was established in 1998 as the Asian campus of Ivey under the generosity of Dr. Cheng Yu Tung. It offers Executive MBA and non-degree Executive Development programs to hundreds of executives every year, and have more than 20,000 graduates with 800 alumni in the Asia-Pacific region. The campus is located in the Hong Kong Convention and Exhibition Centre.

About the Richard Ivey School of Business, The University of Western Ontario
The Richard Ivey School of Business at The University of Western Ontario, in Canada, was established in 1922. It was the first North America business school to establish a permanent campus in Asia Pacific. At its Asian campus, the Cheng Yu Tung Management Institute, located at the Hong Kong Convention and Exhibition Centre, the Ivey Business School offers Executive MBA and non-degree Executive Development programs to executives from Hong Kong and across the region. Ivey Business School has more than 20,000 graduates, with 800 alumni in the Asia-Pacific region.

For more information, or photos of General Powell at this event, please contact:
Amelia Chan, Richard Ivey School of Business, (852) 2135-2277, achan@ivey.com.hk

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