Link REIT (00823) completed its chief executive officer recruitment, appointing Neil Andrew Slater from Redevco as executive director and CEO effective March 1. Slater will receive an annual base salary of HK$9 million and participate in short-term and long-term incentive plans, with total first-year compensation including guaranteed bonuses and awards reaching HK$61.5 million. The appointment follows the departure of former CEO Wang Guolong, whose total remuneration in 2024/25 was HK$70.429 million. Chairman Ou Dunqin stated the compensation package is competitive and consistent with the executive team structure revised last year, aligning senior management rewards with shareholder returns in Hong Kong's largest retail-focused REIT.
Link REIT Sets HK$61.5 Million First-Year Compensation Package for New CEO
Slater's compensation structure includes a HK$9 million annual base salary and eligibility for Link REIT's discretionary short-term and long-term incentive plans. To compensate for remuneration and benefits forfeited from his current position, he will receive a guaranteed award of HK$13.5 million under the 2026/27 short-term incentive plan, a one-time signing bonus of HK$13.5 million, and long-term incentives valued at HK$24 million.
Chairman Ou Dunqin emphasized that the executive compensation plan revised last year remains unchanged. He stated Slater's remuneration package is competitive and fully consistent with other executive team members, with better shareholder returns resulting in higher compensation for senior team members. Slater's total first-year package of HK$61.5 million is lower than Wang Guolong's HK$70.429 million total remuneration in 2024/25.
Chairman Confirms Asset Disposal and Buyback Strategy During Transition Period
With eight months remaining until the new CEO assumes duties, Ou Dunqin stated Link REIT's business operations continue as usual during the transition period. Since Wang Guolong's retirement, the management team and board have maintained strong execution capabilities and will sustain the existing strategy before Slater's appointment on March 1. The strategy includes continuing to dispose of non-core assets, repurchasing fund units at appropriate prices, and focusing on retail properties in the Asia-Pacific region, particularly Hong Kong and the Greater Bay Area, to deliver attractive returns to unitholders.
Ou stated that to maximize value, the REIT reviews the value of each asset but has no plans to sell Hong Kong retail properties in the short term. He described market conditions as showing signs of bottoming out and consolidation, creating an ideal opportunity to dispose of non-core assets, conduct buybacks, and reinvest in the portfolio. He expressed confidence that with obstacles cleared, Slater can make an immediate impact upon assuming the role.
The chairman highlighted Slater's extensive experience in investing and operating retail properties and deep understanding of Asia. Slater has led teams in Hong Kong, Singapore, Australia, Tokyo, and South Korea, demonstrating familiarity with local cultures and Asian assets while understanding Link REIT's importance to Hong Kong communities.
FAQ
When does Neil Slater officially become Link REIT's CEO?
Neil Andrew Slater will assume the position of executive director and CEO of Link REIT effective March 1, as announced by the company upon completion of its recruitment process.
What is Link REIT's strategy during the CEO transition period?
Chairman Ou Dunqin confirmed Link REIT will maintain its existing strategy before Slater's appointment, continuing to dispose of non-core assets, repurchase fund units at appropriate prices, and focus on retail properties in Hong Kong and the Greater Bay Area to deliver returns to unitholders.
