Hong Kong International Theme Parks

Hong Kong International Theme Parks

Hong Kong International Theme Parks

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Description:
Hong Kong International Theme Parks Ltd. (HKITP) is an incorporated company jointly owned by The Walt Disney Company (TWDC) and the Government of Hong Kong), founded in 1999. It owns and operates the Hong Kong Disneyland Resort, on Lantau Island, Hong Kong.

Shareholdings

At the start, the Hong Kong Government held a 57% stake, while The Walt Disney Company had 43%. But after the expansion plans were announced in 2009, when The Walt Disney Company invested HK$3.63 billion (US$465 million), Hong Kong Government's holdings were reduced to 52% while The Walt Disney Company's shares increased to 48%.

Board of Directors

The Board of HKITP has a membership of 11 directors. The Hong Kong Government appoints five directors while the Walt Disney Company appoints four directors. Two independent non-executive directors are jointly appointed by the Hong Kong Government and the Walt Disney Company. Chairmanship rotates annually between the government-appointed directors and the Disney-appointed directors.


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