Hutchison MD Fok pockets HK$515K in pay a day

June 03, 2014 11:43
Hutchison Whampoa's Canning Fok was awarded a 9 percent pay rise last year. Photo: HKEJ

2013 was a good year for Canning Fok Kin-ning, the long-time managing director of Hutchison Whampoa Ltd. (00013.HK) and the right-hand man of billionaire Li Ka-shing.

Apple Daily reported Tuesday that Fok scored a 9 percent pay raise last year, taking his annual total to HK$188 million (US$24.24 million), or HK$515,000 a day.

That was more than the combined HK$127 million in payments to 24 of the top 25 Hong Kong-listed mainland firms. Lenovo Group’s (00992.HK) Yang Yuanqing was closest in compensation with HK$114 million.

It is not always the case that the bigger the company the bigger the boss's pay. Wang Hongzhang, chairman of China Construction Bank Corp. (00939.HK), earned HK$1.41 million last year, while Wu Xiangdong, managing director of property developer China Resources Land Ltd. (01109.HK), took home less than HK$860,000.

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