SJM Holdings Limited, the Macau headquartered hotel and casino operator, has announced several board changes following it Annual General Meeting on 12 June.
The changes see 96 year old Stanley Ho, the man often credited with the Macau’s gambling success, finally step down as the company confirmed his departure as Chairman and Executive Director.
SJM Holdings had announced in April that this would be the case, with him now taking up his role as Chairman Emeritus.
Commenting on Ho’s legacy the SJM Board in their announcement stated: “Dr. Ho has justifiably been acknowledged as the founding father of Macau’s gaming industry, which has for some time been the largest in the world in terms of revenue. Under Dr. Ho’s visionary leadership, the Group achieved significant growth in the past decade.
“The Board expresses its sincere gratitude to Dr. Ho for his invaluable contributions in building a solid foundation for the Company’s continuing growth in the future”.
The announcement also detailed that Stanley Ho’s daughter, Daisy Ho Chiu Fung, has been appointed to succeed Stanley Ho as Chairman in addition to her existing position of Executive Director of the company, having been elected to the role in June 2017
Several Executive Directors have also been promoted as Co-Chairman. They include Timothy Fok Tsun Ting and Angela Deputada Leong On Kei.
So Shu Fai has been also appointed to the role of Vice-Chairman, in addition to his current role as Executive Director and CEO of SJM Holdings.
In case this board shuffle is too much to comprehend or confusing, the company did also release an updated list of “Directors and their Role and Function”.