With Li Ka-shing Out, Empire Seen Ripe for Change of Guards
- Flagship CK Hutchison has oldest board on Hang Seng Index
- Li’s conglomerate seen as running ‘old-economy’ businesses
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Now that his 89-year-old father is stepping aside, incoming CK Hutchison Holdings Ltd. Chairman Victor Li will face the challenge of reinvigorating a business empire that’s gotten long in the tooth.
With the average age pushing 73, the board of directors that the 53-year-old executive inherits will be the oldest on the Hang Seng Index -- even after Hong Kong’s richest man officially steps down in May, according to data compiled by Bloomberg. Affiliates CK Asset Holdings Ltd., CK Infrastructure Holdings Ltd. and Power Assets Holdings Ltd. aren’t far behind, with all of them ranking in the top 10 by that measure.