CK Hutchison (0001) co-managing director Canning Fok Kin-ning pocketed HK$166.04 million last year, down by 27.14 percent from 2019, says CK's annual report.
As one of the best-paid executives in Hong Kong, Fok is dubbed the "king of the working class."
Among the components of Fok's total emoluments, the discretionary bonuses slumped by 28.76 percent to HK$153.22 million in 2020. The other components, including director's fees, provident fund contributions and basic salaries, allowances and benefits-in-kind, remain unchanged.
The emoluments of all directors of CK Hutchison also dived by 16.19 percent to HK$487.16 million last year. Among them, chairman Victor Li Tzar-kuoi's total emoluments also fell 26.37 percent to HK$86.41 million.
In 2020, Li's director's fees were HK$380,000 and basic salaries, allowances and benefits-in-kind were HK$4.89 million, while his discretionary bonuses went down by 27.62 percent to HK$81.14 million.
However, the group finance director and deputy managing director, Frank John Sixt, earned HK$109.62 million in 2020, up by 41.99 percent from 2019.
In comparison, Fok's annual emoluments were only about a third of those of Tencent president Martin Lau Chi-ping, whose total emoluments increased by 20.56 percent to 427.71 million yuan (HK$508.02 million) in 2020.
Last year, CK Hutchison's net profit plummeted 28 percent to HK$29 billion, while Tencent's net profit shot up by 175 percent to 59.3 billion yuan.
Separately, median pay for the chief executives of more than 300 of the biggest US public companies reached US$13.7 million (HK$106.86 million) last year, up from US$12.8 million for the same companies a year earlier and on track for a record, said a Wall Street Journal analysis. The stock market's rebound boosted what top executives took home because much of their compensation comes in the form of equity, the Journal said.
Canning Fok is known as the ‘king of the working class.’ SING TAO
