You will be redirected back to your article in seconds

Wong to depart Asia Television

Agreement ends two-week tenure as CEO

HONG KONG – Asia Television and Ricky Wong Wai-kay Wednesday agreed the departure of Wong, ending his tumultuous two-week tenure as CEO.

Earlier this week the Hong Kong commercial broadcaster announced the shock departure of newly appointed Wong, only for Wong hours later to deny that he was leaving.  

The Monday ouster was blamed on a clash of personalities with equally new executive chairman Linus Cheung Wing-lam. But the ensuing chaos soon threw up other examples of problems. Wong was quickly accused of going too quickly in reforming the loss-making group. Cheung was accused of keeping the board in the dark when he hired Wong on Dec 3. And the channel’s reputation was brought into question by the miscounted results of a beauty pageant that ATV organized.

Wong’s agreed departure on Wednesday, however, took on a different tone. The hard-nosed entrepreneur issued a statement that read more like a love letter. “I fell in love with this company…. Regrettably, things go on in the way many love affairs do. The one you most love is not the one you will marry or the one who becomes part of your life,” Wong wrote.

Legco, Hong Kong’s equivalent of a parliament, will hold a special meeting Friday to discuss the machinations at ATV.

The chaos comes at a time when the net is losing some $130,000 a day and the advertising market becoming more fragile. The company recently announced the redundancy of several staffers and during his 12 day reign Wong hinted that more would be needed in order to stabilize ATV’s finances.

More Biz

  • Doug Morris

    Doug Morris to Exit Sony Music at the End of March

    HONG KONG – Asia Television and Ricky Wong Wai-kay Wednesday agreed the departure of Wong, ending his tumultuous two-week tenure as CEO. Earlier this week the Hong Kong commercial broadcaster announced the shock departure of newly appointed Wong, only for Wong hours later to deny that he was leaving.   The Monday ouster was blamed on […]

  • Oprah Responds to Trump Tweet Claiming

    Oprah Responds to Trump's Tweet Claiming Bias in '60 Minutes' Segment

    HONG KONG – Asia Television and Ricky Wong Wai-kay Wednesday agreed the departure of Wong, ending his tumultuous two-week tenure as CEO. Earlier this week the Hong Kong commercial broadcaster announced the shock departure of newly appointed Wong, only for Wong hours later to deny that he was leaving.   The Monday ouster was blamed on […]

  • Music Theatre International

    Drew Cohen Named Global CEO of Music Theatre International

    HONG KONG – Asia Television and Ricky Wong Wai-kay Wednesday agreed the departure of Wong, ending his tumultuous two-week tenure as CEO. Earlier this week the Hong Kong commercial broadcaster announced the shock departure of newly appointed Wong, only for Wong hours later to deny that he was leaving.   The Monday ouster was blamed on […]

  • 'Daily Show's' Michelle Wolf to Host

    'Daily Show' Contributor Michelle Wolf to Host White House Correspondents' Dinner

    HONG KONG – Asia Television and Ricky Wong Wai-kay Wednesday agreed the departure of Wong, ending his tumultuous two-week tenure as CEO. Earlier this week the Hong Kong commercial broadcaster announced the shock departure of newly appointed Wong, only for Wong hours later to deny that he was leaving.   The Monday ouster was blamed on […]

  • Harvey Weinstein ousted

    Weinstein Co. Sued by Lindt Chocolatier Over Canceled Golden Globes Party

    HONG KONG – Asia Television and Ricky Wong Wai-kay Wednesday agreed the departure of Wong, ending his tumultuous two-week tenure as CEO. Earlier this week the Hong Kong commercial broadcaster announced the shock departure of newly appointed Wong, only for Wong hours later to deny that he was leaving.   The Monday ouster was blamed on […]

  • Pandora Shares Surge as Fourth-Quarter Subscription

    Pandora Shares Surge as Fourth-Quarter Subscription Revenue Climbs 63%

    HONG KONG – Asia Television and Ricky Wong Wai-kay Wednesday agreed the departure of Wong, ending his tumultuous two-week tenure as CEO. Earlier this week the Hong Kong commercial broadcaster announced the shock departure of newly appointed Wong, only for Wong hours later to deny that he was leaving.   The Monday ouster was blamed on […]

  • Eric Schneiderman

    Weinstein Co. Deal Moving Ahead After Three-Hour Meeting With Attorney General

    HONG KONG – Asia Television and Ricky Wong Wai-kay Wednesday agreed the departure of Wong, ending his tumultuous two-week tenure as CEO. Earlier this week the Hong Kong commercial broadcaster announced the shock departure of newly appointed Wong, only for Wong hours later to deny that he was leaving.   The Monday ouster was blamed on […]

More From Our Brands

Access exclusive content