HK’s richest man Li retires, says worked ‘too long’

HONG KONG: Hong Kong´s richest man, Li Ka-shing, announced his retirement as chairman of CK Hutchison Holdings Ltd on Friday, bringing to a close a rags-to-riches story that made him a hero in the free wheeling capitalist hub.

Li, 89, will retire after the annual general meeting on May 10, the ports-to-telecoms conglomerate said in a filing to the Hong Kong bourse, passing the mantle to his eldest son Victor Li, who was named successor several years ago.

While Hong Kong´s adoration of Li Ka-shing and his story has waned somewhat in recent years, he is still stepping aside from one of Asia´s most outward-looking empires, spanning more than 50 countries and 323,000 employees at last count.

A factory apprentice when he was 13, Li, has been called "Superman" for his business acumen and success. "I´ve been working for a long time, too long," a relaxed Li, dressed in a dark suit and striped tie, told reporters. He said the secret to his success included factors like continual self-improvement and unstinting hard work.