Date
24 September 2017
Tony Tsoi is resigning amid reports that his pro-democracy website House News will reopen as soon as the end of this month. Photo: HKEJ
Tony Tsoi is resigning amid reports that his pro-democracy website House News will reopen as soon as the end of this month. Photo: HKEJ

Varitronix chief quits amid news website revival

House News founder Tony Tsoi Tong-hoo has resigned as chief executive officer and executive director at Varitronix International Ltd. (00710.HK), the Hong Kong Economic Journal reported Thursday.

His resignation from Varitronix will take effect in late March next year, the report said. Samantha Ko Wing-yan, chief financial officer and executive director, will succeed Tsoi, according to a stock exchange filing. Ko is a daughter of company chairman Johnson Ko Chun-shun.

Tsoi is quitting the company for personal reasons and has no disagreement with other board members, the filing said.

His resignation came shortly after media reports said his political news website, House News, will resume operation under another name as soon as the end of this month.

However, it remains unclear whether Tsoi will have a stake or role in the new portal, which will raise its working capital through crowdfunding.

In an earlier report, Next Magazine, citing sources, said the closure of the pro-democracy website in July was meant to give some leeway to Tsoi’s boss, Ko Senior, who was then negotiating a deal with the state-backed CITIC Group.

In his statement on his resignation from Varitronix, Tsoi thanked the company chairman for trusting him over the past 10 years.

Samantha Ko joined Varitronix in October from China WindPower Group Ltd. (00182.HK), which is also controlled by her father.

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VW/JP/CG

Freelance journalist

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