Vincent Lo’s 35-year-old daughter appointed as executive director of Shui On Land

Shui On Land founder Vincent Lo Hong-sui’s daughter is stepping onto the developer’s board, a move seen as paving the way for the 70-year-old chairman to retire and name her as his successor to run the HK$15.23 billion business empire.

The board of directors of Shui On Land on Monday appointed Stephanie Lo Bo-yue, 35, as executive director effective from Monday, according to the company’s filing to the Hong Kong stock exchange. It came six years after she joined the group.

Ms. Lo, who has more than 14 years of experience in property development in mainland China, is also executive director of Shui On Management (SOM) and the vice-chairman of China Xintiandi (CXTD). Both SOM and CXTD are subsidiaries.

She holds a bachelor of arts degree in architecture from Wellesley College in Massachusetts and worked for various architecture and design firms in New York, including Studio Sofield that is well-known for its retail design. She overseas market positioning and strategy for Shui On Land projects, and assists the chairman in leading the overall development of the group.

“It is an obvious act for Vincent Lo to pick his daughter as his successor,” said Alvin Cheung Chi-wai, associate director at Prudential Brokerage.

Cheung said it was positive for chairmen of listed companies to name their successors while they are still healthy.