Robin Hu will remain as the chief executive officer of the South China Morning Post media business, whose sale to the Alibaba Group was formalised on April 5.
The newly acquired entity, named SCMP Publishers Limited, now owns all the media assets of the SCMP Group, including the print and online versions of the newspaper, an array of magazine titles and other adjacent businesses.
As announced by the Hong Kong Stock Exchange on Tuesday evening, Hu will give up his title of CEO of the SCMP Group, which will soon be renamed Armada Holdings as it shifts its focus to its property investments.
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In a statement, Hu said: “I remain as CEO of SCMP Publishers Ltd which now holds all media assets previously owned by the SCMP Group listed on HKEX, of which I was CEO prior to the deal completion.”
In a filing to the Hong Kong Stock Exchange on Tuesday evening, SCMP Group chairman David Pang announced that Hu had ceased to be the chief executive officer of the group following completion of the company’s disposal of its media assets.
“Mr Hu has confirmed that he has no disagreement with the board and there are no matters in relation to the cessation of his role as chief executive officer that need to be brought to the attention of the company’s shareholders.”
