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China Daily Website

Li Ka-shing has no worries after retirement

Updated: 2013-05-23 20:57
( chinadaily.com.cn)

Not all business leaders can be worry-free when they retreat from their business empires. Not only will they follow their old habits as founders, but they also will see whether their successors can do a good job. But 85-year Li Ka-shing feels no pressure at all, says an editorial in Beijing News. Excerpts:

As the richest Chinese in the world, Li Ka-shing is quite confident about his retirement. At the shareholder meeting on May 21, he said he believes that even when he retires, nothing will change except for wars and other political issues; everything will be fine.

Such confidence is not just a statement to comfort the corporation’s shareholders. Li started the successor training plan long ago, including thoughtful arrangements regarding his huge assets, so that he can make sure the business empire he built can be develop steadily in the future.

When his two sons were still young, he allowed them to attend board meetings. In 1985, he let his elder son join the company. The son has had 28 years to practice business and get to know senior managers, all of which provide a solid foundation for him as successor. For his younger son, Li Ka-shing encouraged his innovation and independence, providing various resources to help him build his own career.

Therefore, unlike some other business leaders' children in Hong Kong, there are no wars and disputes between Li's two sons, ensuring his whole business will be inherited. On May 25, 2012, Li Ka-shing for the first time published his property distribution plan, considering both the fairness and steady development of his career.

Such a plan should be adapted by other Chinese business leaders, and the early training he provided also provides Li the confidence to retire without many worries.

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