SINGAPORE - CapitaLand chief executive and president Lee Chee Koon, who assumed the top post in September 2018, was rewarded with a remuneration package of $4 million to $4.25 million for 2018.
In its annual report filed with the Singapore Exchange on Monday (March 18), the listed property giant disclosed the remuneration packages of its top executives, who together collected over $17.6 million for the year 2018.
The highest paid was Mr Lee, 43, whose remuneration was in the band of $4 million to $4.25 million, of which 20 per cent was salary inclusive of annual wage supplement (AWS), 60 per cent in bonus and other benefits, and the remaining 20 per cent in shares awarded.
Mr Lee was group chief investment officer - a position he took on in January 2018 - before he stepped up to succeed Lim Ming Yan as CEO in September 2018.
Comparatively, the remuneration package of Mr Lim for 2017 was much higher at $6 million to $6.25 million, 19 per cent of which was salary inclusive of AWS, 45 per cent in bonus and other benefits, and the remaining 36 per cent in shares awarded.
Next in line in the 2018 pay packages were Jason Leow, president for Asia (not including China) and retail, and Lucas Loh, president for China and investment management; they each had a remuneration package of $3.75 million to $4 million.
Group chief financial officer Andrew Lim and group chief people officer Tan Seng Chai each got a remuneration package of $2.5 million to $2.75 million.
CapitaLand's 2018 net profit was up 12.3 per cent to $1.76 billion, as revenue rose 21.3 per cent to $5.60 billion.