01 Apr 2016

Succession of Board Chairman, Appointment of New Independent Directors and Changing of Board members

The Board of Directors (the “Board”) of Link Asset Management Limited (the “Company”), manager of Link REIT ("Link"; Hong Kong stock code: 823), announced today that Nicholas Sallnow-Smith stepped down as the Chairman of the Board (the “Board Chairman”) on 31 March 2016 upon completion of his 9-year term of services. Nicholas Allen succeeded Nicholas Sallnow-Smith as the new Board Chairman effective from 1 April 2016.
Working with his fellow directors and the professional management team, Mr Sallnow-Smith oversaw the transformation of Link into a multi-billion dollars organisation that has rode the storm of financial market uncertainties and other challenges over the past decade to set a robust foundation for future growth.  Over this period, under Mr Sallnow-Smith’s guidance, Link has achieved milestones one after another in business and other arena under the mission of ‘serving and improving the lives of those around us’.
The Board and the management would like to express the most sincere gratitude to Mr Sallnow-Smith for his leadership of the Board and outstanding contributions to Link during his tenure of service.
“I am honoured to have served Link as Chairman. It is a credit to all those who have been part of Link’s team that we have improved the lives of the communities of Hong Kong in the past decade, while positioning the business for long-term success. The malls and fresh markets we have renovated, and the improved offerings many of our tenants are providing to the shopping public are evidence of the progress we are making. I am confident that with Mr Allen’s guidance, our professional, dedicated, dynamic team of people will continue to be ambassadors for the positive role business can play in the community,” said Mr Sallnow-Smith.
The Board extends a warm welcome to Mr Allen on his assuming the office of Board Chairman. 
Mr Allen said, “As a young, innovative company, Link has transformed the landscape of the local REIT market and unlocked market forces to bring new life to Hong Kong’s retail sector and positive changes to the community. I am excited by this opportunity to build on the transformational accomplishments of our team. Leveraging on the strong partnership with our stakeholders, we will carry on our mission of enhancing people's lives, whether it is through widening choices to meet customers' changing preferences, renewing shopper experience with innovative services, or capturing new opportunities to enhance the portfolio.” 
Nicholas Allen has been based in Hong Kong for more than 30 years and possesses in-depth knowledge of the real estate industry and regulated business in Hong Kong and overseas. He has extensive Board experience within high-profile publicly listed companies. He is also experienced in securities and regulatory matters.  He served on the Securities and Futures Appeal Panel, the Takeovers and Mergers Panel, the Takeovers Appeal Committee and the Share Registrars’ Disciplinary Committee of the Hong Kong Securities and Futures Commission.
The Board also announced the appointment of Blair Pickerell as an independent non-executive director (the INED) and the following changes in memberships of the Company’s Board Committees effective from 1 April 2016. Nicholas Allen, the new Board Chairman, took over to chair the Finance and Investment Committee (the FIC) and the Nomination Committee (the NC). Elaine Young, an INED, joined the Remuneration Committee (the RC) as a member. Nancy Tse, an INED, joined the Audit and Risk Management Committee as a member, and ceased to be a member of the RC. Ed Chan, an INED, joined the FIC as a member. Blair Pickerell, a new INED, joined the NC and RC as a member.
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