Link Real Estate Investment Trust (0823) has appointed Neil Slater as its new chief executive and executive director, effective from March next year, with the total remuneration package significantly lower than that offered to his predecessor.
Slater, 49, is the current CEO and co-chief investment officer of Redevco, one of Europe’s largest owners and operators of retail properties.
The appointment followed a comprehensive, international and highly competitive search and selection process, through which Slater demonstrated strong leadership and strategy credentials, said Link’s chairman Duncan Owen.
Excluding a one-off sign-on bonus of HK$13.5 million, Slater will receive a base fee and discretionary short‑term and long-term incentives totaling HK$46.5 million for the roles, much lower than the nearly HK$59 million package offered to former chief George Hongchoy Kwok-lung.
The package is primarily based on the remuneration framework established a year ago, under which short-term bonuses have been reduced, Owen said.
Slater’s performance targets for long-term awards have also been set to ensure alignment with unitholders' interests, he added.
