New World Development CEO Eric Ma to step down 2 months after replacing Adrian Cheng

Quick Summary:

In September, NWD’s former CEO Adrian Cheng Chi-hong surprised the market by stepping down.

The Cheng family, ranked as the third wealthiest in Hong Kong with an estimated fortune of US$22.1 billion according to Forbes, holds a 45.2 per cent stake in New World Development.

The company is expected to issue a statement as early as Friday afternoon about Ma’s departure, according to a source familiar with the matter.

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Article Details

Author / Journalist: Salina Li

Category: Business

Markets: Hong KongChina

Topics: Cheng World Family Development Step According (nwd) Siu-cheung Eric Billion Months

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-29 @ 14:37:21 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 121 words

Reading Time: 1 minutes read

Sentences: 12 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23939003

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