Hong Kong, Nov 29, 2024 (AFP) - Hong Kong's New World Development replaces CEO after two months

NAMPA / AFP

2024-11-29

Hong Kong property developer New World Development said on Friday that Eric Ma will step down as chief executive officer after having spent just two months on the job. The sprawling business empire, run by Hong Kong's third-richest family, reported an annual loss of over US$2.5 billion in late September. Former Hong Kong development minister Ma took over as CEO from Adrian Cheng, a grandson of the founder, when the losses were announced. But in......

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