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.
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.
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.
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.[2] The company laid off employees to cut costs, for which he was publicly criticised.[3]
Other positions in civil and public service:
Fung is married with three children and like his brother William holds American citizenship.[7]