‘King of Employees’ Canning Fok steps down as CK Hutchison’s co-managing director; Victor Li remains chairman

A major shuffle in the senior management of CK Hutchison Holdings Ltd (0001) announced on Friday saw Victor Li Tzar-kuoi cease to be Group Co-Managing Director of the company, but will remain as the Chairman and the Executive Director.

Canning Fok Kin-ning will be appointed as Deputy Chairman. He will cease to be Group Co-Managing Director as well but will remain as an Executive Director.

Fok will also be appointed as Executive Chairman of CK Hutchison Group Telecom Holdings Ltd, the holding company of the telecommunications businesses of the group.

Frank John Sixt and Dominic Lai Kai Ming will be appointed as Group Co-Managing Directors of the company, while Sixt will continue to be Group Finance Director.

Andrew John Hunter will be appointed as an Executive Director. All managerial changes will take effect starting April 1.

“With the promotion of Canning Fok to Deputy Chairman and Executive Chairman of CK Hutchison Group Telecom Holdings Ltd, he will continue to serve and support the group and to lead the telecommunications division of the group,” Li said.

“This will also allow him to spend more time with his family,” he added.

“Sixt and Lai have been strong veterans of the group for over 30 years and are well versed with the businesses and operations of the group. They are fully equipped and well positioned to carry on leading the Group going forward.

“Hunter has also been with the group for over 35 years and will be a valuable complement to the board.”

Fok first joined the group in 1984 and had been a key executive working alongside the group’s founder and Hong Kong’s richest Li Ka-shing.

In 2022, Fok was paid HK$204 million in salaries and bonuses, equating to HK$560,000 a day on average, earning him the title of “King of Employees”.

Fok still holds senior positions in prominent firms in the city apart from those at CK Hutchison. They include Chairman of CK Infrastructure Holdings, Chairman of Hongkong Electric Holdings, Chairman of Australia-based TPG Telecom Ltd, and Deputy Chief Commissioner of PT Indosat TBK in Indonesia.