SCMP: Adrian Cheng Chi-kong, the third-generation scion at the helm of one of Hong Kong’s largest conglomerates, will step down as the chief executive of New World Development and take on a non-executive role in the company.

New World scion to step down as CEO, takes up non-executive role

Cheng, born in 1979, will become the non-executive vice-chairman of New World, giving up his title of chief executive officer, sources say.