Sir Run Run Shaw Retires!!

HK, December 7, 2011 – Sir Run Run Shaw will retire end December. TVB informed the Hong Kong Stock Exchange that he would step down from all posts (Chairman, non-executive Director, Executive Committee Member) at the end of this month. He will then become Chairman Emeritus on Lifetime at the company he founded in 1965 as first free satellite program in Hong Kong.

TVB announced that 71 year old Executive Deputy Chairman Dr. Norman Leung Nai Pang would become Executive Chairman. His salary will be HK$ 5,76 million (US$ 740,000), plus director fees of HK$ 150,000 (US$ 19,300) as well as a bonus. As Deputy Chairman, Leung is entitled to a bonus of HK$ 1 million (US$ 129,000) for the running year.

TVB which main business is terrestrial TV broadcast in Hong Kong meanwhile also broadcasts in Taiwan, Northern America, Australia, and Europe, and holds a program distribution network all over Asia, especially on the Chinese mainland, Malaysia, Singapore, and Vietnam.

Info: filmbiz.asia

Thank you for the wonderful movies, Sir Run Run Shaw. Your lifetime achievements are merely unbelievable, enjoy your retirement!!