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New World Development
Hong Kong
New World Development’s revolving door of CEOs shows succession challenge
New World’s previous CEO, Eric Ma, had taken the reins only in September after the shock ouster of Henry Cheng’s son, Adrian, who up until then had been seen as the heir apparent.
December 07, 2024
Broker's Calls
Another CEO change for New World Development doesn’t affect operations, valuation: Morningstar
Hong Kong-listed New World Development announced the resignation of CEO Eric Ma on Nov 29, just two months after he was appointed in September.
December 02, 2024
Company in the news
New World Development’s CEO Eric Ma to leave after two months in succession saga twist
Ma was meant to steady the ship after Adrian Cheng, eldest son of Cheng family patriarch Henry Cheng, resigned as New World’s CEO in late September after the company’s first loss in two decades.
November 29, 2024
Markets
New World Development to be removed from Hang Seng Index
New World Development will be removed from the Hang Seng Index and Kuaishou Technology and New Oriental Education & Technology Group will be added on Dec 9.
November 25, 2024
Hong Kong
New World Development halts trading amid reports of CEO departure
CEO Adrian Cheng could be poised to step down. Writedowns have led to the company’s first annual loss in two decades.
September 26, 2024
New appointments
Chow Tai Fook Jewellery appoints former Loewe GM to oversee Southeast Asia expansion
Gabriela Ferreira will build a team in Singapore to support business expansion in the region.
September 04, 2024
Hong Kong
Hong Kong’s New World shares drop 14% after first loss warning in 20 years
The developer has been under scrutiny in recent years over its high level of borrowings.
September 02, 2024
Wealth
Hong Kong billionaire Cheng family's succession under spotlight
It had been widely expected that Adrian Cheng, 44, would take over leadership of the family empire from his father
November 29, 2023