Property

New World Development scion Adrian Cheng steps down as CEO

Resignation shakes succession as Hong Kong developer books first loss in decades

20240926 Adrian Cheng

New World Development's outgoing CEO Adrian Cheng poses for a portrait in Hong Kong in 2020. (Photo by Paul Yeung)

ECHO WONG, Nikkei staff writer
September 26, 2024 18:58 JST
Updated on September 26, 2024 20:12 JST

HONG KONG -- Adrian Cheng has stepped down as CEO of his billionaire family's Hong Kong real estate company New World Development, as the developer booked its first loss in two decades.

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