Is "Floor" the Correct Word?

[cleung]

I am supposed to chair a small shareholders' meeting; however, because of potential conflict of interest, I will have to let another person, Mr. Lee, chair the meeting in my stead. Am I correct to say "I now turn the floor to Mr. Lee" after a brief explanation or introduction?

Thank you for your help.

[Coffa]

I am supposed to chair a small shareholders' meeting; however, because of potential conflict of interest, I will have to let another person, Mr. Lee, chair the meeting in my stead. Am I correct to say "I now turn the floor to Mr. Lee" after a brief explanation or introduction?
Thank you for your help.

It would usually be "I now pass the floor to Mr. Lee."

[MikeNewYork]

I am supposed to chair a small shareholders' meeting; however, because of potential conflict of interest, I will have to let another person, Mr. Lee, chair the meeting in my stead. Am I correct to say "I now turn the floor to Mr. Lee" after a brief explanation or introduction?

Thank you for your help.

In the US, "turn the floor over to" would be common.