Media tycoon Jimmy Lai resigns as Next Media chairman
Media tycoon Jimmy Lai Chee-ying, a high-profile supporter of the Occupy Central movement, has stepped down as chairman of Next Media.
Media tycoon Jimmy Lai Chee-ying, a high-profile supporter of the Occupy Central movement, has stepped down as chairman of Next Media.
The move was announced last night by the media company that he founded, in a filing to the Hong Kong stock exchange.
Lai "has decided to step down from his executive positions of the group so as to spend more time with his family and further pursue his personal interests", the statement said. The company publishes and , which have long lent support to Hong Kong's pro-democracy movement.
The statement said Lai tendered his resignation after trading hours on Friday, with effect that day for his positions as chairman and executive director.
The previous day Lai had been arrested - along with other leading supporters of the civil disobedience campaign - when police cleared the Admiralty protest camp. In all, 249 protesters were arrested for unlawful assembly. Lai and his fellow activists were released unconditionally on Friday morning.
The police clearance of the area ended 2½ months of sit-in protests in the fight for unrestricted universal suffrage in the election of the city's chief executive.
The company said Lai "confirms that he has no disagreement with the board and there is no other matter that needs to be brought to the attention of the shareholders of the company in relations" to his resignation.
Cassian Cheung Ka-sing, 59, an executive director and chief executive of the group, has been appointed as interim chairman of the group, effective on Friday.
