Adrian Cheng Chi Kong, CEO of New World Development and founder of K11 Group, has been appointed by China’s Meta Media as the new co-chairman and non-executive director of the company’s board, with effect from February 16, 2023. The official statement says that Cheng’s skills in digital technology and cultural commerce will boost content commerce and start a new cycle of digital development.
Cheng’s Initial Appointment and Vision
Cheng’s initial appointment is for three years, with the possibility of re-election at the company’s first annual general meeting of shareholders. Cheng shares the same philosophy as the company’s CEO, Shao Zhong, of putting creative content at the centre of communication with readers and looking for the ideal relationship model between culture, art, and social commerce. The hiring of Cheng is a big win for Meta Media, which is renowned for its rich content history and the innovative status of its creative team.
Cheng’s New Role and Plans for the Future
As co-chairman of Meta Media’s board, Cheng is eager to collaborate with the group to forge a new, more global path for the digital space of the fashion, branding, design, and creative industries in China, APAC, and the rest of the world. As the CEO of New World Development, Cheng launched The Artisanal Movement in January 2015 and is currently in charge of the company’s expansive construction projects, such as Victoria Dockside in Tsim Sha Tsui and the “11 SKIES” SKYCITY complex at Hong Kong International Airport. Funding for the K11 Brand’s Early Stages Cheng is the creator of the K11 brand, a museum-retail complex at the intersection of art and commerce.
Through the K11 Art Foundation and K11 Craft & Guild Foundation, Cheng has expanded the brand’s reach into retail, hospitality, offices, and non-profit art education. Additionally, Cheng gives start-ups and tech-focused platforms early-stage funding. New Co-Board Chairperson Shao Zhong, who previously served as the board’s chairman, has now been promoted to co-chairman. Shao will continue to lead the business as CEO and an executive director, working closely with Cheng to manage the board of directors. For the purposes of the Corporate Governance Code and Listing Rules, Shao and Cheng will take on and carry out the responsibilities of the co-chairman of the board jointly.
Partnership with ERNIE Bot
Cheng’s appointment is in addition to Meta Media’s announcement of a partnership with the ChatGPT-like bot ERNIE Bot, created by Chinese search giant Baidu. The subsidiary media company of Meta Media will use Baidu’s AI technology to power business information apps like Shangzhou APP, Green Gold, CITYLAB, Markets, and Wealth.
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The Chinese editions of Bloomberg Businessweek, InStyle, and ArtReview magazines are among the publications that are published by Meta Media, a company that was founded in 1999. In order to better reflect its forward-thinking goals, the company, formerly known as “Modern Media,” changed its name to Meta Media in early 2022. With Cheng’s hiring, Meta Media is well-positioned to have a big impact on the digital landscape of the fashion, branding, design, and creative industries both domestically and abroad.
