Fung, Victor K. - from Hong Kong | United States
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Is the Group Chairman of Li & Fung group of companies. Together with his brother William, he owns a controlling stake of 32% in the business, which was founded by his grandfather. He has held a number of public and other offices, including Chairman of the Airport Authority Hong Kong, Hong Kong University Council and the Greater Pearl River Delta Business Council.
At present, Victor Fung is the Group Chairman of Li & Fung Group, and his brother William is the Group managing director. The business was founded by their grandfather, Fung Pak-liu, in 1906 and subsequently led by their father, Fung Hon-chu.
Fung is chairman of the Hong Kong-Japan Business Co-operation Committee and co-chair of France-based The Evian Group at IMD forum and think tank. He has been chairman since 2008 of the International Chamber of Commerce. He was formerly chairman of the Hong Kong Trade Development Council (1991–2000) and chairman of Airport Authority.
In 2008, Fung was appointed by Donald Tsang, the Chief Executive of Hong Kong, to be the member of "Task Force on Economic Challenges" to evaluate the situation and identify new opportunities during the financial tsunami. The company laid off employees to cut costs, for which he was publicly criticised.
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