Celestial’s CEO Exits Company

HONG KONG, March 7:
Effective March 9, William Pfeiffer, the CEO of Celestial Pictures, will be
leaving the company to pursue new business ventures, following the expiration
of his contract.

A successor has not yet
been announced, as the company’s board is still considering its options.

Pfeiffer was appointed CEO
in 2001, and since then has formed and led a team of executives to develop and
execute the Celestial business plan. Among his accomplishments is the
completion of the digital re-mastering of the 760 films in the Shaw Brothers
Film Library and its successful commercialization. The Shaw library is now
widely distributed in more than 100 countries, and has extended its presence
into songs, merchandise and mobile content. Pfeiffer was also an integral
figure in launching Celestial Movies, a Chinese movie channel distributed to 12
Asian countries.

Pfeiffer has also been
instrumental in developing the company’s businesses in China. He set a
framework for the origination and aggregation of Chinese content in association
with leading content producers in China. WaTV, a general entertainment TV
channel launched in 2005 and currently being distributed on Astro’s platforms
in Malaysia and Indonesia, has become a window into the lifestyles of China’s
youth.

Executives at the company
say Celestial will continue to explore new and digital opportunities for the
Shaw library, to enhance and strengthen the Celestial TV channels for global
distribution, and to work closely with leading talents in China, Hong Kong and
elsewhere to create top-quality content for markets worldwide.

—By Ned Berke