TVB welcomes approval for Li Ruigang to be appointed non-executive director

(16 August 2016) Television Broadcasts Limited (TVB) welcomes the approval by the Chief Executive in Council for Mr Li Ruigang to serve as a non-executive director of TVB.

Under the Broadcasting Ordinance, Mr Li is a disqualified person by virtue of his association with advertising agency business in China and overseas as well as a non-domestic television programme service licensee.  His appointment as a director of TVB needs to be approved by the Chief Executive in Council.

“Mr Li will not participate in the daily operation of TVB.  He will advise on the general corporate planning as well as business strategies and contribute to the long-term growth of TVB with his unrivaled connections both within China and internationally.  TVB will benefit from Mr Li’s unique insights and experience covering TV station operations, content production, new media platforms and sports media,” a TVB spokesman said.

“We will initiate formal procedure for Mr Li’s appointment by the Board.”

In addition, the Chief Executive in Council has also approved Dr Charles Chan, chairman and non-executive director; Mr Mark Lee, executive director and group CEO; and Mr Thomas Hui, non-executive director of TVB to continue to serve as directors of TVB despite their disqualified person status.  Under the definition of “associate” in the Broadcasting Ordinance, Dr Chan, Mr Lee and Mr Hui will become disqualified persons as associates of Mr Li when they are appointed as directors of Shaw Brothers Holdings Limited.

The four of them are all veterans in the television, entertainment and media industries with a proven record of significant contributions and achievement.  Approval for them to be directors of TVB will facilitate the company to invest in the film, television production and online multimedia markets in Hong Kong, Mainland China and other territories.  This will hopefully increase the financial resources and have positive effect on the programme quality and offerings for the benefit of Hong Kong viewers.

Stock Price

Loading...
26 February 2017
Stock Code
Share Price
Opening
The share price information is delayed and is for reference only.