After nearly seven decades, Li Ka-shing has formally stepped down as chairman of CK Hutchison Holdings Ltd. and CK Asset Holdings Ltd.
A remarkable career...
The 89-year-old, who announced his retirement plans in March, will handover responsibilities to his eldest son, Victor Li. After a shareholders meeting, Li Ka-shing said, 'I think I’ve done the best of what I can [...] I feel very grateful.' His career began in 1950, setting up a plastics manufacturing company, from which he transformed into a global conglomerate of real estate, infrastructure, retail, ports and telecommunications.
Due to the sheer size of the business, the now former chairman plans to stay on as a senior adviser to ensure smooth transition. Retailers and businesses around the world will be waiting in anticipation to see how Victor Li steers the company in the future.
Toby Anderson leaves A.S. Watson CEO post
Celesio UK has appointed Toby Anderson as its new chief executive officer, a post that he will take up in September. Having relocated to Asia for more than a decade, he worked across various country management roles, spending over seven years as marketing director for Asia and Eastern Europe before moving into the CEO post. For Celesio UK's LloydsPharmacy, Anderson will bring a wealth of experience in operational strategy, know-how for introducing new store formats and the ability to manage large-scale budgets.
Want to know more?
Retail Analysis Subscribers can read more on A.S. Watson's Strategic Outlook here.