Li Ka-shing, Hong Kong’s richest man, rejects retirement claims
Hong Kong’s best known business figure, who turns 89 in July, ‘will make his official announcement when he decides to retire’, says Cheung Kong Group
Billionaire Li Ka-shing, for decades one of the world’s wealthiest tycoons, “has no concrete timetable” to retire from his global conglomerate CK Hutchison Holdings, the group said in a statement on Tuesday.
The company was responding to a report in the Wall Street Journal suggesting Li has told associates he plans to step down as chairman of the organisation by next year.
Li, who turns 89 in July, hasn’t given a specific date but is likely to step down by his 90th birthday, the report said, according to people briefed by the tycoon.
One of them, the WSJ added, said Li has already told his inner coterie of advisers, including son and deputy chairman Victor Li, who is earmarked as his successor.
Another person said the elder Li, known for his trademark horn-rimmed glasses and an iron grip on his companies, could step down by year-end.
“Mr Li has from time to time talked about his retirement and his confidence in Victor to lead the company. Mr Li is in very good health,” the group said in a statement in response to the WSJ report.
“There is no concrete timetable at this stage and Mr Li will make his official announcement when he decides to retire.”