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Li Ka-shing, whose life journey from humble beginnings to Asia’s biggest business fortunes became the epitome of entrepreneurship that inspired generations of Hongkongers, has announced his retirement after almost seven decades at the pinnacle of one of the world’s largest corporate conglomerates.
“I have decided to step down as chairman of the company and retire from the position of executive director at the forthcoming annual general meeting of the company,” Li said in a filing to the Hong Kong stock exchange on Friday.
Li said he would serve as Senior Advisor of the company.
Li, who turns 90 in July, will hand over the chairmanship of his flagship CK Property Holdings to his elder son Victor.
The younger Li will also assume the helm of CK Hutchison, the conglomerate with businesses from container ports to retail, telecommunications and power plants.
(SCMP)
