HKEX names Calvin Tai Chi Kin as interim CEO

Hong Kong Exchanges and Clearing Limited (HKEX) announced it has appointed Calvin Tai Chi Kin as its interim Chief Executive to succeed Charles Li Xiaojia, effective 1 January 2021.

Mr Li retired from his role as the Chief Executive of HKEX and ceased to be an ex-officio member of the Board of HKEX on December 31, 2020. Mr Li has confirmed that he has no disagreement with the Board and that he is not aware of any matters relating to his retirement that need to be brought to the attention of HKEX's shareholders. Mr Li has been appointed as Senior Advisor to the Board for 6 months effective 1 January 2021.

Effective 1 January 2021, Mr Tai has been appointed as Interim Chief Executive of HKEX and an ex-officio member of the Board, while continuing his role as Co-President and Chief Operating Officer of HKEX.

Mr Tai's terms of service on the Board and its committees will be coterminous with his appointment as Interim Chief Executive of HKEX.

Under the terms of his appointment letter, Mr. Tai's compensation package includes a basic salary of HK$7.0 million per year. He is eligible to receive performance-related discretionary bonus and share awards to be recommended by the Remuneration Committee and approved by the Board. As a full-time employee, Mr. Tai is also entitled to other benefits in kind and to participate in HKEX's provident funds. This compensation package is determined having given consideration to the level of responsibility, experience and abilities required of Mr Tai’s position within the Group and the remuneration offered for similar positions in the financial industry.