Date
19 August 2017
CK Hutchison Holdings Ltd. chairman Li Ka-shing said previously that he could choose to step down any time he likes and believes his retirement will have little impact on the conglomerate. Photo: HKEJ
CK Hutchison Holdings Ltd. chairman Li Ka-shing said previously that he could choose to step down any time he likes and believes his retirement will have little impact on the conglomerate. Photo: HKEJ

Li Ka-shing says no specific retirement plan yet

In response to reports that CK Hutchison Holdings Ltd. (00001.HK) chairman Li Ka-shing is planning to retire next year, the company’s spokesman told the Hong Kong Economic Journal that Li is in perfect health and he has not set any specific retirement date yet.

When there is any concrete plan, there will be a formal announcement, the spokesman said.

The Wall Street Journal reported earlier that the tycoon plans to step down next year and pass the torch to his elder son Victor Li.

The report said Li has already told his advisers and Victor Li about his plan.

The succession issue of Hong Kong’s richest man has always attracted a lot of attention.

During a press conference after the results announcement in March, the tycoon was asked about the matter, and he said: “I have long been well prepared for that. I am turning 90 next year. Only a fool won’t get prepared.”

Li said he could step down any time he likes as his son Victor is always ready to take up his role as chairman of the conglomerate and run it along with other senior managers.

When that happens, he will become the group’s senior advisor and focus on managing his foundation, he said.

Li noted that he has full confidence in the company’s operations and its prospects, and believes his retirement will have little impact.

– Contact us at [email protected]

RT/CG

Hong Kong Economic Journal

EJI Weekly Newsletter

Please click here to unsubscribe