At just 35-years-old, Douglas Woo Chun-kuen will succeed his father 67-year-old billionaire Peter Woo Kwong-ching to take over the chairmanship of Wheelock Properties.
Wheelock Properties is also the controlling shareholder of Wharf Holdings owning two shopping malls in Hong Kong – Harbour City and Times Square.
The transition will take place on Jan. 1 but Peter Woo will remain a senior director when his son takes over the reins.
Apparently the board of directors did not have any issues with the young Woo taking over – who had worked in real estate corporate finance analyst at UBS and acquisition and asset management at UBS Triton Fund, as reported by The Standard.
Peter Woo took over the property business from his father-in-law, tycoon Pao Yue-kong in 1986, when he married his second daughter Bessie Woo Pao Pui-ying in 1973.
Peter Woo’s 37-year-old daughter, Jennifer Woo Chun-en is the current chairwoman of the family’s retail business, Lane Crawford Joyce Group.
Ahhh isn’t it nice to be born rich in Hong Kong!
