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The Board of Directors (“Board”) of Hong Kong Exchanges and Clearing Limited (“HKEx”) is pleased to announce that the Board has approved the renewal of the employment contract of Mr Li Xiaojia, Charles (“Mr Li”) as the Chief Executive of HKEx for a further 3-year term from 16 October 2015 to 15 October 2018, inclusive.
Under HKEx’s Articles of Association, Mr Li in his position as the Chief Executive is an ex-officio director of HKEx with a term to be coterminous with his employment. The re-appointment is, pursuant to Section 70 of the Securities and Futures Ordinance, subject to the written approval of the Securities and Futures Commission. A further announcement will be released upon obtaining such an approval.
Mr Li joined HKEx in October 2009 and became the Chief Executive and a director of HKEx effective 16 January 2010. His biographical details are available on the HKEx corporate website (www.hkex.com.hk).
Mr Li’s compensation package remains unchanged with a salary of HK$9,000,000 per annum, and performance-related discretionary bonus and/or share awards to be recommended by the Remuneration Committee and approved by the Board. As a full-time employee, he is also entitled to other benefits in kind and to participate in HKEx’s provident funds. This compensation package was determined having given consideration to the level of responsibility, experience and abilities required of the Chief Executive and the remuneration offered for similar positions in the financial industry.
By Order of the Board
Joseph Mau
Company Secretary
Hong Kong, 17 June 2015
As at the date of this announcement, the Board comprises 12 Independent Non-executive Directors, namely Mr CHOW Chung Kong (Chairman), Mr CHAN Tze Ching, Ignatius, Mr Timothy George FRESHWATER, Ms FUNG Yuen Mei, Anita, Mr Rafael GIL-TIENDA, Mr John Barrie HARRISON, Dr HU Zuliu, Fred, Dr KWOK Chi Piu, Bill, Mr LEE Kwan Ho, Vincent Marshall, Mrs LEUNG KO May Yee, Margaret, Mr John Mackay McCulloch WILLIAMSON and Mr WONG Sai Hung, Oscar, and one Executive Director, Mr LI Xiaojia, Charles, who is also HKEx’s Chief Executive.
