Hong Kong's Asia Television suspends CEO
Nancy Hu joined company in March 2009BEIJING -- Hong Kong free-to-air broadcast Asia Television Ltd. suspended CEO Nancy Hu from her post, following a board decision Tuesday, Hong Kong media reported.
No immediate successor was named for Hu, who joined ATV in March 2009. Hu had a difficult relationship with other senior company executives, RTHK said Wednesday.
ATV trails rival Television Broadcasts Ltd. in Hong Kong's free-to-air duopoly. Earlier this month, the Hong Kong government required both to adhere to previously submitted capital investments plans, which will cost ATV HK$2.3 billion (US$299 million) and TVB HK$6.3 billion, respectively, over the period 2010 to 2015. Both were also granted extensions to complete their conversion from analog broadcasting to digital.
Hu's suspension comes amid a series of executive departures. Former chairman Linus Cheung departed the company in December 2009 after only a year in the position.