Wednesday, January 05, 2011

董小可有新發展

傳媒股近年並非熱門板塊,行業經營環境只是一般,要留住叻人自然不容易,禤中怡聽聞服務萬華媒體(426)近12年時間的董小可(Terence)即將有新發展。

據行內人講,Terence在集團內的角色舉足輕重,今次被新東家挖角,最頭痕的當然是萬華大老闆,要知道今時今日要搵個有傳媒背景、四十出頭嘅年青CEO,認真有難度,不過據傳聞,Terence去意已決。萬華要留人才相信不易。

Terence在該集團服務確算長情,自1998年起,他出任明報雜誌營業總監,直至05年更上一層樓,獲委任加入董事會,成為執行董事。

在短短3年間,這位40出頭的傳媒人於08年6月再晉升為萬華媒體行政總裁。老實講,禤中怡覺得Terence今次被新東家挖角,十分合理,以佢呢種四十出頭、具傳媒管理經驗及國際視野嘅港產CEO,市場上的確不多。

數來數去,大概有差不多背景的,數得出只有星島系的盧永雄。再講,睇睇星島(1105)高層的人工,行政總裁盧永雄於08年時,單是薪金、津貼等酬金已逾800萬元,即使09年度齊捱金融海嘯的影響,他於該年度的酬金總額仍逾720萬元,即實際減幅只是約10%而已。此外,盧永雄還獲一批認股權,可供認購1,800萬股,而行使期直至2015年,購股價為每股0.77元。望望該股昨日收市報2.79元計,假若無調整購股權條款,而他又可悉數行使購股權的話,單是該批股份的帳面利潤便達3,636萬元之多。

相對上,Terence就認真超值,由接手做萬華媒體總舵手一職時,年薪才接近170萬元,連同花紅等,即使直至2010年度,其酬金總額只有204.4萬元,與09年度比較,減10%。他雖獲一批總值100萬股的購股權,行使價為每股1.2元,可惜該股昨日收市僅報0.405元,恐怕能行使的機會很微了。從酬金和購股權可見,就知Terence的人工上升空間有幾大,講真香港上市公司請CEO,出得起一千幾百萬者大有人在。Terence絕對是搶手貨。

講返轉頭,Terence雖然「生不逢時」,上任做CEO不久,便碰上雷曼兄弟倒閉而掀起金融海嘯,面對經濟逆轉,但其負責的雜誌業務成績仍然不俗,睇睇《明報周刊》就知,就算經濟好與壞,《明周》的廣告質與量仍然能夠維持,試問高檔品牌廣告商,如要落廣告,有幾時會漏咗《明周》呢?明顯地,《明周》品牌絕對有其市場價值,Terence作為重要負責人,功勞自然不少。

另一個巧妙的配合,就是這位《明周》大腦剛從亞洲出版業協會卸下主席一職,由經濟學人集團(The Economist Group (A/P) Ltd.)區域廣告及贊助部總監施大衛接任,可算是無官一身輕,似乎亦配合其發展新大計。

(於1月5日刊於《am730》)

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