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Wong exits Asia Television

CEO's chaotic tenure comes to an end

Ricky Wong Wai-kay’s tumultuous two-week tenure as Asia Television CEO officially ended on Wednesday.

The Hong Kong commercial broadcaster announced the shock departure of the newly appointed Wong on Monday — something he denied just hours later.

The ouster was blamed on a clash of personalities with equally new executive chairman Linus Cheung Wing-lam. But other problems were soon revealed in the ensuing chaos.

Cheung was accused of keeping the board in the dark when he hired Wong on Dec. 3. Wong was accused of moving too quickly in reforming the money-losing group.

And ATV’s reputation was brought into question by the miscounted results of a beauty pageant that it organized.

Wong’s departure on Wednesday, however, took on a different tone. The hard-nosed entrepreneur issued a statement that read, “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.”

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

The chaos comes when the net is losing some $130,000 a day while the advertising market is becoming more fragile.

Company recently pinkslipped several staffers and, during his 12-day reign, Wong hinted that more cuts would be needed to stabilize ATV’s finances.

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