HKEX chairman's pay hiked 51pc to $3.3m

Business | Gary Poon Apr 25, 2019
<p>With a majority vote from HKEX (0388) shareholders, chairman Laura Cha Shih May-lung&#39;s annual remuneration will be raised to HK$3.3 million, surging 51 percent.</p><p>Cha&#39;s annual remuneration was HK$2.19 million last year. Other directors&#39; annual remuneration will also be raised to HK$850,000 with a 16 percent increase from last year&#39;s HK$730,000.</p><p>Chief executive officer Charles Li Xiaojia said, &quot;HKEX have to employ world class experts and have to pay world class salaries to them.&quot; Cha added that the increase was suggested by an independent advisory firm and also had their remuneration compared to other exchange firms&#39; management remuneration.</p><p>Meanwhile, HKEX will consider launching plans related to structured and derivative products in the next few weeks. Li said HKEX will continuously improve the products but did not elaborate on the details going forward.</p><p>HKEX launched listing reform almost a year ago and Cha emphasized that there more weighted voting rights&#39; shares and technology companies will be listed on the market.</p><p>Shares with weighted voting rights will be included in the stock connects from July and Li said HKEX is communicating with Shanghai and Shenzhen exchanges on the plan.</p>

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May 2019