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HONG KONG: Billionaire Li Ka-shing told associates that he plans to retire by next year as chairman of his flagship CK Hutchison Holdings Ltd., the Wall Street Journal reported, citing unidentified people familiar with the matter.
Li hasn’t specified a date but is likely to step down by his 90th birthday in July next year, the newspaper reported.
The tycoon plans to remain as senior adviser and keep his office atop CK Hutchison’s headquarters building in downtown Hong Kong, according to the report.
”There is no concrete timetable at this stage and Mr. Li will make his official announcement when he decides to retire,” CK Hutchison said in a statement.
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