Victor Fung Explained

Honorific Prefix:The Honourable
Victor Fung Kwok-king
Birth Date:1945
Birth Place:Hong Kong
Nationality:Hong Kong SAR/British Hong Kong
Alma Mater:Massachusetts Institute of Technology
Harvard School of Business
Occupation:Engineer, businessman
Relations:William Fung (brother)
Spouse:Julia Shen Nai-kee
Parents:Fung Hon-chu (1911-1994)
Lee Pui-yiu (1919-2013)
Children:3
Order:ts
T:馮國經
S:冯国经
J:fung4 gwok3 ging1
P:Féng Guójīng

Victor Fung Kwok-king (; sometimes Victor K. Fung;[1] born 1945, Hong Kong) 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.

Education

Fung has Bachelor of Science and Master of Science degrees in electrical engineering from MIT. After earning a PhD in business economics from Harvard Business School, he stayed there as a professor of finance. For his early education, he enrolled in King George V School in Hong Kong.

Career

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.[2] The company laid off employees to cut costs, for which he was publicly criticised.[3]

Other positions in civil and public service:

Honours

Personal

Fung is married with three children and like his brother William holds American citizenship.[7]

See also

External links

Notes and References

  1. http://www.ftpress.com/authors/bio.aspx?a=b664434e-4393-44a7-9c4a-888b50eb9a06 "Victor K. Fung"
  2. Web site: CE appoints members of Task Force on Economic Challenges . Info.gov.hk. 2008-10-28 . 2017-01-26.
  3. Web site: Li & Fung denies layoff report, will cut costs by 10% . Chinadaily.net . 2008-11-18 . 2017-01-26.
  4. Web site: Home - Asia Global Institute . Fungglobalinstitute.org . 1970-01-01 . 2017-01-26.
  5. https://www.iese.edu/about/leadership/ Members of IESE's International Advisory Board
  6. Web site: TIME Magazine 60 Years of Asian Heroes. minamahalkongpilipinas.blogspot.ae. 2018-02-22.
  7. Web site: #287 Victor Fung & family . Forbes.com . 2010-02-12 . 2017-01-26.