Douglas Li, CEO of Hong Kong mobile operator SmarTone, has resigned after being at the helm of the territory’s fourth largest operator for more than 18 years over two stints.
In a statement the company said Li felt it was the right time to pass the baton over to the next generation of leadership to take the company forward in the fast-evolving mobile-first internet age. He was the founding CEO from 1992-96 and served again as the CEO for the past 14 years.
Li, who also was executive director, will step down at the end of August. The board is now searching for a replacement.
SmarTone has almost two million mobile subscribers for a 15 per cent market share. More than a quarter of its customers have 4G data plans.
The company’s net profit jumped 50 per cent in its fiscal H1 ending 31 December as handset and accessory sales expanded 58 per cent, thanks to huge demand for the iPhone 6.