New World Dev (17 HK): Board Games
Evidently the influence of a younger hip third-generation tycoon-scion was not the panacea for New World Development (17 HK) and its ongoing issues in the HK/China property space.
As widely expected, Adrian Cheng is stepping down as NWD's CEO, to be replaced by Eric Ma, Hong Kong’s former secretary for development.
NWD will also sell the rights to provide property management services under the K11 brand to Adrian; and potentially sell its stake in Kai Tak Sports Park to its parent.
Keep reading with a 7-day free trial
Subscribe to Hong Kong/China M&A/Events to keep reading this post and get 7 days of free access to the full post archives.