TVB announced that 71-year-old Norman Leung Nai Pang, currently executive deputy chairman, would take over as executive chairman of the board, from 1 January next year.
Dr Leung was appointed a director of TVB and executive deputy chairman in September 2003.
Sir Run Run Shaw, aged 104, formed the Shaw Brothers film company in 1958, and was one of the founding directors of TVB. He has been a director of the company since 1965.
TVB has since become the leading terrestial TV station in Hong Kong, and has been the ‘mogul’ of TVB and film industry in Hong Kong.
TVB issued the following statement on Sir Run Run's retirement: "Sir Run Run Shaw has made outstanding contributions to the company over the past forty four years. Under his able leadership, TVB has grown from strength to strength."
In recognition of his contributions, the company has also given Sir Run Run the honourary title of chairman emeritus of TVB.
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