Steven Ho Shut Kan Takes Over from Wong Siu Kong as CEO of Kerry Properties

Steven Ho Shut Kan is taking charge as CEO of Kerry Properties, replacing Wong Siu Kong, who will remain as chairman of the Hong Kong-listed developer.

Announced on Wednesday, the leadership change is effective today. Ho, aged 69, served as co-managing director from 2013 to 2015 and has been president since 2015. The MBA holder took the role of general manager of Kerry Group from 1985 to 1990 and has been an executive director of Kerry Properties since 1998.

Ho is also a director of Kerry Holdings Limited, the firm’s controlling shareholder, and a director of China World Trade Center Co.

Wong Hands Over CEO Mantle

Wong, 66, has been chairman since 2013 and become chief executive in 2015. His previous leadership roles at the company included serving as joint managing director of Kerry Properties from 1999 to 2003, deputy chairman and managing director from 2003 to 2008 and president and CEO from 2008 to 2013.

Following the leadership change, Wong will also remain as an executive director of the company, while Ho will become a member of the remuneration committee and the nomination committee. Wong’s annual pay was about HK$25.34 million ($3.3 million) in 2016, while Ho earned HK$22.64 million ($2.9 million), according to the statement.

Listed on the Hong Kong exchange in 1996, Kerry Properties is a leading developer in the city and mainland China, with a focus on high-end residences and mixed-use projects in prime locations. The group’s investment portfolio of completed properties totalled 2.86 million square feet (265,703 square metres) in Hong Kong and 7.39 million square feet (686,553 square metres) in the mainland, as of last June, including the Jing An Kerry Centre in Shanghai and the Bloomsway and Martin Heights residential developments in Hong Kong.

In December, the company teamed up with Sino Land to win the tender for a 600-home site adjacent to the MTR station in the upcoming neighbourhood of Wong Chuk Hong, on the south side of Hong Kong Island.