ASIA

Shake-up at Hong Kong Conglomerate: The managing director of Hutchison Whampoa Ltd. resigned in a managerial shake-up at companies controlled by Hong Kong billionaire Li Ka-shing. Hutchison said Simon Murray, who has been with the group for nine years, also resigned as chairman of Hongkong Electric Holdings Ltd. and as an executive director of Cheung Kong Ltd. Li owns about 35% of Cheung Kong, which has a 42% stake in Hutchison. Hutchison in turn owns about 35% of Hongkong Electric. The departure is related to Hutchison’s troubled expansion into oil in Canada and British telecommunications.