TVB’s Run Run Shaw to retire at 104
Thursday 08 Dec 2011
Hong Kong media mogul Run Run Shaw will be relinquishing – at the age of 104 – all his posts at TVB, bringing the curtain down on a remarkable 44-year career in broadcasting, the South China Morning Post reports.
TVB’s board of directors announced yesterday that Mr Shaw, the network’s Chairman, would be retiring on 31 December, when he would also step down as non-executive director and executive committee member.
He would be honoured with the title of chairman emeritus of the company in recognition of his “sterling contributions”, the board said.
Tsang Sing-ming, TVB’s Deputy Controller of External Affairs, said Mr Shaw’s retirement had nothing to do with his health, which “showed no major changes”.
Norman Leung Nai-pang, Executive Deputy Chairman, takes over as Executive Chairman on 1 January. The mogul’s wife, Mona Fong Yat-wah, remains TVB’s Deputy Chairwoman and Managing Director.
Mr Shaw, born in 1907, founded the Shaw Organisation with his brother, Runme Shaw, in 1926 in Shanghai. Four years later, the firm became Shaw Studios, which grew to be Asia’s largest studio by 1958.
He launched TVB in November 1967, and as controlling shareholder, Run Run Shaw attracted top talents to the station, ushering in what many call the golden age of TV entertainment in Hong Kong.
In March, Mr Shaw sold his entire 26 percent holding stake in TVB to a group of investors for HK$6.26 billion (US$805 million).