Victor Fung (businessman)
Victor Fung Kwok-king | |
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| Born | 1945 Hong Kong |
| Nationality |  United States |
| Alma mater | Massachusetts Institute of Technology Harvard School of Business |
| Occupation(s) | Engineer, businessman |
| Spouse | Julia Shen Nai-kee |
| Children | 3 |
| Parent(s) | Fung Hon-chu (1911-1994) Lee Pui-yiu (1919-2013) |
| Relatives | William Fung (brother) |
| Victor Fung | |||||||||||
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| Traditional Chinese | 馮國經 | ||||||||||
| Simplified Chinese | 冯国经 | ||||||||||
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Victor Fung Kwok-king GBM GBS CBE (Chinese: 馮國經; 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.[2]
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
[edit]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.
Fung was the eldest son of Fung Hon Chu and his mother, Lee Pui Yiu, was a prominent member of the Western District Women's Welfare Association.[3] Fung was the third generation of the Fung family in the Li & Fung Group. He attended the Primary Section of Ling Fung Secondary School in Happy Valley (he entered Primary One in 1951, which was opened in 1951) and graduated from King George V School (Secondary Section) in 1962.[4] He passed the University of London Entrance Examination in 1962, obtaining a distinction in six out of nine subjects and a good grade in three subjects; he went to the Massachusetts Institute of Technology from the same year onwards for a Bachelor's Degree in Industrial Management, and obtained a Master's Degree in Electrical Engineering in 1966. In 1966, he obtained a Master's degree in Electrical Engineering.[5] In 1970, he obtained a PhD in Business Economics from Harvard University, where he was a professor, and returned to Hong Kong in 1974 to join the family-owned Li & Fung Group. He is currently the Chairman of the Fung Group. Fung and his brother, Fung Kwok Lun, hold 70% of the shares of Li & Fung.
Career
[edit]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.[citation needed]
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.[citation needed]
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.[6] The company laid off employees to cut costs, for which he was publicly criticised.[7]
Personal
[edit]Fung is married with three children and holds American citizenship.[8]
See also
[edit]References
[edit]- ^ "Victor K. Fung", FT Press. Retrieved 1 March 2011.
- ^ "馮國經推薦珠三角當內銷平台 - 香港文匯報". paper.wenweipo.com. Retrieved 17 April 2025.
- ^ "嶺風中學頒發獎品 得獎學生名單揭曉". 華僑日報. 25 January 1952. p. 12. Retrieved 26 May 2023.
- ^ "馮漢柱長公子 國經飛美深造". 華僑日報. 26 August 1962. p. 13. Retrieved 27 May 2023.
- ^ "財富人生 剖析馮國經的"三棲之道"". 中金在線.[permanent dead link]
- ^ "CE appoints members of Task Force on Economic Challenges". Info.gov.hk. 28 October 2008. Retrieved 26 January 2017.
- ^ "Li & Fung denies layoff report, will cut costs by 10%". Chinadaily.net. 18 November 2008. Retrieved 26 January 2017.
- ^ "#287 Victor Fung & family". Forbes.com. 12 February 2010. Retrieved 26 January 2017.
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