![Hong Kong media tycoon, Sir Run Run Shaw, is seen in this undated file photo. Shaw turned 100 on Thursday, October 4, 2007. [File Photo: wenweipo.com]](U330P886T1D4506F12DT20111209135000.jpg "Hong Kong media tycoon, Sir Run Run Shaw, is seen in this undated file photo. Shaw turned 100 on Thursday, October 4, 2007. [File Photo: wenweipo.com]")
(Ecns.cn)--Hong Kong media mogul Run Run Shaw, who is 104 years old, will be relinquishing all his posts at Television Broadcasts Ltd (TVB)，bringing the curtain down on a remarkable 44-year career in broadcasting, reported the South China Morning Post on Thursday.
The company's board of directors announced a day earlier that Shaw will retire from the position of board chairman on December 31, when he will also step down as non-executive director and executive committee member.
He will be honored with the title of Chairman Emeritus of TVB in recognition of his "sterling contributions," the South China Morning Post quoted the board.
TVB announced that 71-year-old Dr. Norman Leung Nai-pang, currently executive deputy chairman, will take over as executive chairman from January 1 next year, while Shaw's wife, Mona Fong Yat-wah, will remain the firm's deputy chairwoman and managing director.
Tsang Sing-ming, deputy controller of external affairs of TVB, told the South China Morning Post that Shaw's retirement had nothing to do with his health.
Shaw had in fact been planning his retirement long before, and since 2007 there were rumors that he was considering handing over the reins after his 100th birthday. The next year, his wife began to manage TVB, while Shaw seldom concerned himself with the media business.
Shaw took a major step away from the hot seat on Jan. 1 last year when he relinquished his duties as executive chairman, a role he had performed since 1980, to become non-executive chairman. In March, Shaw sold his entire 26 percent holding in TVB to a group of investors, including Charles Chan (chairman of ITC Corp)，Cher Wang (co-founder and chairperson of the HTC Corporation) and Providence Equity Partners, for HK$6.26 billion.
He was last seen on television on October 3 at TVB City, where he officiated at a lighting ceremony before the firm's 44th anniversary. However, he was conspicuously absent from the birthday program on Nov. 19 for the first time in decades, according to the South China Morning Post.
