Linus W. L. Cheung Appointed to Sotheby’s Board of Directors
November 07 2016 - 7:00AM
Sotheby’s announced today that Linus Wing Lam Cheung has been
unanimously elected to join the Company’s Board of Directors. Mr.
Cheung is the retired Chief Executive Officer of Hong Kong Telecom
and a renowned collector of Chinese Art.
“Linus brings a wealth of business experience and
sophistication to our Board and company,” said Domenico De Sole,
Chairman of Sotheby’s Board of Directors. “His unique insights on
Asia, as well as the many areas in which Sotheby’s operates, will
be incredibly valuable. Having had the pleasure of knowing
him as a client for years, we are very pleased to now welcome him
as an independent Director.”
Mr. Cheung served as Executive Chairman of Asia
Television Limited from 2008 to 2009, Chief Executive Officer of
Hong Kong Telecom from 1994 to 2000 and, following Hong Kong
Telecom’s merger with Pacific Century Cyberworks (PCCW) in 2000,
PCCW’s Deputy Chairman until 2004. Prior to joining Hong Kong
Telecom, Mr. Cheung spent 23 years at Cathay Pacific Airways where
he concluded his tenure as Deputy Chief Executive Officer.
“I am delighted to be joining the Board of
Sotheby’s, a company I have long admired during my decades as a
collector,” commented Mr. Cheung. “As the art market
continues to evolve and grow in China and across Asia, I look
forward to sharing my expertise and experience to best position the
Company for future success.”
Mr. Cheung has served on the board of China Unicom
Ltd. since 2004 and HK Resort International Ltd. since 2006.
Previously, he served on the boards of Cathay Pacific Airways, Hong
Kong Telecom, Cable and Wireless plc, and Taikang Insurance.
In addition to his past executive leadership
positions, Mr. Cheung has been actively involved with his alma
mater, the University of Hong Kong, where he earned a BSocSc degree
with honors and a Diploma in Management Studies with distinction.
He spent 10 years as a member of the Council of the University of
Hong Kong and also served as Chairman of the University of Hong
Kong School of Professional and Continuing Education and as
Chairman of the Centennial College.
In connection with Mr. Cheung’s appointment,
Sotheby’s and its largest shareholder, Taikang Insurance Group,
have entered into an agreement whereby Taikang has agreed it will
not increase its ownership position beyond 15% for a period of
three years, subject to certain conditions.
About Sotheby’sSotheby’s has been
uniting collectors with world-class works of art since 1744.
Sotheby’s became the first international auction house when it
expanded from London to New York (1955), the first to conduct sales
in Hong Kong (1973), India (1992) and France (2001), and the first
international fine art auction house in China (2012). Today,
Sotheby’s presents auctions in 10 different salesrooms, including
New York, London, Hong Kong and Paris, and Sotheby’s BidNow program
allows visitors to view all auctions live online and place bids
from anywhere in the world. Sotheby’s offers collectors the
resources of Sotheby’s Financial Services, the world’s only
full-service art financing company, as well as private sale
opportunities in more than 70 categories, including S|2, the
gallery arm of Sotheby's Contemporary Art department, and two
retail businesses, Sotheby’s Diamonds and Sotheby’s Wine. Sotheby’s
has a global network of 80 offices in 40 countries and is the
oldest company listed on the New York Stock Exchange (BID).
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