New Delhi: Shangri-La Asia has named Kuok Hui Kwong as its new CEO starting August 1, ending the leadership gap since December 2022 when the previous CEO, Lim Beng Chee, stepped down. Lim is still on the board as a non-executive director. Kuok will now handle both the chair and CEO roles, which the company says will help keep its strategy and daily operations aligned.
Kuok, 47, has been part of Shangri-La’s leadership for years, joining the board in 2016 and becoming chair in 2017. She had already stepped in quietly to lead the company after her brother stepped down last year, having served as deputy chair before that. She studied East Asian Studies at Harvard and is the sixth of eight children of Robert Kuok, the founder of Shangri-La and Malaysia’s richest man.
Outside of hotels, she has worked in media, including as CEO of the South China Morning Post for a short time in 2012 before Alibaba bought the newspaper in 2015. She also held a board position at the Bangkok Post. Despite her senior roles, Kuok avoids the media and keeps a low profile.
Kuok has a significant financial stake in Shangri-La, holding over 95 million shares and a stake in Kerry Group, a major shareholder of Shangri-La. She currently earns a base salary of HK$576,000 (around US$73,000) per month, with bonuses and pension benefits.
Shangri-La Asia runs over 100 hotels globally under brands like Shangri-La, Kerry Hotels, JEN, and Traders, with assets worth US$13.2 billion. The Kuok family owns stakes in 77 of these properties, and the group also has businesses in wine, golf, and real estate.
In 2024, Shangri-La Asia’s revenue rose 2 percent to US$2.19 billion, but its profit fell by 12 percent to US$161.4 million. Revenue grew in Hong Kong and the Philippines but was weaker in mainland China, Singapore, and the UK. By the end of 2023, Shangri-La had around 25,500 employees, a small drop from the previous year, but the company avoided large layoffs even during the pandemic.
Now, with both strategy and daily operations under Kuok’s control, she is expected to guide Shangri-La’s recovery and growth while maintaining the company’s long-term vision.
