Alain Li
LAS VEGAS SANDSAbout Alain Li
Alain Li (age 64) is an independent director at Las Vegas Sands Corp. (LVS), serving since 2024; he is a Fellow of The Institute of Chartered Accountants in England and Wales and has deep senior leadership experience across Asia luxury and consumer sectors . He previously served as Regional Chief Executive, Asia Pacific at Richemont (2006–2023), CFO of IDT International and President of Oregon Scientific (2001–2005), and has earlier finance and operating roles at Riso Europe, A.B. Dick-Itek, Zimmer Holdings, and Touche Ross .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Richemont (Luxury Group) | Regional Chief Executive, Asia Pacific | 2006–2023 | Led APAC for luxury Maisons, building brand presence and operations |
| IDT International / Oregon Scientific | CFO; President (Lifestyle electronics brand) | 2001–2005 | Financial leadership and brand operations |
| Riso Europe | Various roles up to President | 1992–2001 | European operations leadership |
| A.B. Dick-Itek Group | Controller, European Operations | 1991–1992 | Finance leadership in Europe |
| Zimmer Holdings | Various capacities | 1987–1992 | Finance/operational roles |
| Touche Ross & Co. | Trainee Accountant | 1981–1986 | Chartered accountancy foundation; Fellow of ICAEW |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| Rémy Cointreau SA | Independent Non-Executive Director | 2022 | Global spirits; governance and Asia market insight |
| Dynasty Fine Wines Group Limited | Independent Non-Executive Director | Aug 2024 | China-based wine company |
| French Chamber of Commerce & Industry in Hong Kong | President | 2022 | Business community leadership |
Board Governance
- Committee assignments: Audit Committee member; Compensation Committee member; Chair, Nominating and Governance Committee .
- Independence: The Board determined Li is independent under SEC/NYSE rules. The independence review considered ordinary-course transactions between Marina Bay Sands (MBS) and a food & beverage operator where one of Li’s immediate family members serves as a director and executive; despite this relationship, he is classified independent .
- Attendance: The Board held eight meetings in 2024; all directors attended at least 75% of Board and committee meetings during their service periods. Directors present at the 2024 annual meeting attended (May 9, 2024) .
- Governance context: LVS is a “controlled company” under NYSE rules, with Adelson family entities controlling over 50% of voting power; committees (Audit, Compensation, Nominating & Governance, Compliance) are entirely independent despite the exemption . There is no Lead Independent Director; the Board meets in executive session without management at each regular meeting, and independent directors meet at least annually in executive session .
Fixed Compensation
| Component | Program Terms | Alain Li 2024 Actual |
|---|---|---|
| Annual Board Retainer (Cash) | $150,000 | $178,917 fees earned (includes prorated committee fees per roles) |
| Committee Chair Fee (Nominating & Governance) | $25,000 (“other committee” chair) | Included in fees earned |
| Committee Member Fees | Audit: $20,000; Compensation: $10,000; Compliance: $10,000 (“other committee” member) | Audit and Compensation included; Li did not serve on Compliance |
| Meeting fees | None disclosed | Not applicable |
| Expense reimbursement | Travel/meeting expenses reimbursed | Program permits reimbursement |
Performance Compensation
| Instrument | Grant Value | Quantity / Terms | Vesting | Notes |
|---|---|---|---|---|
| Annual Restricted Stock/RSU | $200,000 | 4,237 restricted shares (2024 grant) | Vest on earlier of first anniversary or the following year’s annual meeting; 2024 awards vest on May 9, 2025 | Directors may not sell annual award shares while serving on the Board |
| New Director Stock Options (one-time) | $100,000 | 6,824 options (Li grant) | Vest in five equal annual installments from grant date | Exercise price set at fair market value on grant date; new director policy only |
No director performance metrics (e.g., EBITDA/TSR) apply to non-employee director equity grants; awards are time-based per plan and director policy .
Other Directorships & Interlocks
| Company | Sector | Potential Interlock/Exposure | Notes |
|---|---|---|---|
| Rémy Cointreau SA | Spirits | F&B adjacency to LVS properties | No related-party transaction disclosed with Rémy; general independence confirmed |
| Dynasty Fine Wines Group | Wine | F&B adjacency | No related-party transaction disclosed with Dynasty; general independence confirmed |
| Immediate family member’s role | Restaurant operator at MBS | Direct operational adjacency | Independence determination expressly reviewed this relationship; still considered independent |
Expertise & Qualifications
- Financial/audit literacy: Chartered accountant; qualifies as “audit committee financial expert” per Board determination .
- Asia market leadership: Extensive APAC luxury leadership (Richemont) and consumer electronics brand management (Oregon Scientific) .
- Public board experience: Current INED roles at Rémy Cointreau and Dynasty Fine Wines; past executive leadership across Europe and Asia .
Equity Ownership
| Metric | Amount | Detail |
|---|---|---|
| Total beneficial ownership | 5,602 shares | Includes time-vested director equity and options as below |
| Ownership as % of shares outstanding | ~0.00079% (5,602 / 706,627,556) | 706,627,556 shares outstanding basis |
| Vested vs. unvested | Vested/exercisable options 1,365; RSUs vesting within 60 days 4,237 | Options counted in beneficial ownership per SEC rules; RSUs within 60 days included |
| Options outstanding | 6,824 total grant; 1,365 vested/exercisable | New director grant vests over 5 years |
| Pledged or hedged shares | None permitted | No pledging; no hedging or short-selling allowed under policy |
| Director sale restrictions | May not sell annual award shares while serving on Board | Equity plan guardrails |
| Ownership guidelines | No minimum ownership requirement | Company encourages ownership but no mandated minimum; directors cannot sell annual awards while serving |
Governance Assessment
- Board effectiveness and independence: Li chairs Nominating & Governance and sits on Audit and Compensation—positions central to director selection, governance policy, risk oversight (enterprise, ESG), and pay practices; he is classified independent despite a reviewed immediate family relationship involving an MBS restaurant operator .
- Attendance and engagement: Company reports all directors met at least 75% attendance in 2024 and attended the annual meeting; executive sessions occur at each regular meeting, supporting independent oversight .
- Compensation alignment: Director pay structure blends fixed cash retainers with equity (annual $200k RSU; one-time option for new directors) and prohibits selling annual equity while serving; anti-hedging/pledging policies further align incentives, though there is no minimum ownership guideline .
- Controlled company context: Adelson family control (>50% voting power) creates an overarching governance consideration; however, all key committees are fully independent .
Potential RED FLAGS and mitigants
- Related-party exposure: Immediate family member’s executive/director role at an MBS restaurant operator introduces perceived conflict potential; Board reviewed and maintained independence status; Audit Committee oversees related-party transactions .
- Controlled company: Concentrated control may limit minority shareholder influence; mitigated by independent committee structures and robust policies (anti-hedging, no pledging, director sale restrictions on awards) .
- Say-on-pay environment: 2024 say-on-pay approval was ~65% (lower than desired), indicating shareholder scrutiny of pay practices around executives and governance; Compensation Committee continued engagement and adjustments—important board context for Li’s compensation committee role .
Overall, Li’s audit literacy, APAC operating experience, and chair role on Nominating & Governance are positives for board effectiveness; the reviewed family relationship and controlled-company status are notable governance risk factors to monitor, with committee independence and related-party review processes serving as key mitigants .