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October 17, 2009

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TVB's Shaw to give up some executive duties

SIR Run Run Shaw, head of Hong Kong-based Television Broadcasts Limited, will give up executive duties as executive chairman of the company starting from next year, the company announced yesterday.

Shaw, 101, will "become non-executive chairman" starting on January 1.

He will also resign as chairman of the board's executive committee, but will remain a committee member, the company said. Shaw shall not be subject to retirement every three years as non-executive chairman, it added.

One of the founding directors, Shaw has been the executive chairman of TVB since 1980. As of October 16, he held 32.94 percent of the company's listed shares.

Established in 1967, TVB is the first wireless commercial television station in Hong Kong. Now its major activities include television broadcasting and program production. The group has a workforce of about 4,500 and is one of the biggest producers of Chinese language programming.


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