Adrian Cheng exits Chow Tai Fook director role, his last tie to Hong Kong family empire
The former heir apparent to one of the city’s most powerful organisations is now completely disassociated from the business
Adrian Cheng Chi-kong is no longer a director of New World Development parent company Chow Tai Fook Enterprises (CTFE), cutting the last tie that connected the former heir apparent to one of the city’s most powerful business empires.
His name is no longer listed as a director, according to the Hong Kong Companies Registry, the government body responsible for the incorporation and regulation of companies. It did not indicate when he stepped down from the post.
CTFE did not respond to requests for comment.
The move marks the final chapter in the departure of the 45-year-old, who resigned as CEO of New World Development a year ago after the company reported a full-year loss of HK$19.7 billion (US$2.6 billion), its biggest ever, amid property slumps in Hong Kong and mainland China.
CTFE, the investment holding company of the Cheng family, is part of the group of companies founded under the Chow Tai Fook name in 1929. It has investments across various sectors, including real estate and hospitality, jewellery, infrastructure, energy, healthcare and insurance, education and media.
It is also the largest shareholder of two publicly traded conglomerates, property developer New World Development and CTF Services, formerly known as NWS Holdings, which operates in insurance, logistics, construction and facilities management.