Macau (MNA) – SJM Holdings Limited announced on Thursday evening that Stanley Ho will retire from his positions as Chairman and Executive Director and as a member of the Executive Committee of the Board.
The changes are effective after the company’s 2018 annual general meeting to be held on June 12.
Ho’s daughter, Daisy Ho Chiu Fung, will succeed as Chairman and Executive Director of SJM, with Timothy Fok Tsun Ting and legislator Angela Leong On Kei to become Co-Chairmen and Executive Directors of the Company.
In addition, Ambrose So Shu Fai will be appointed Vice-Chairman, Executive Director and Chief Executive Officer of the Company.
‘In recognition of Dr. Ho’s invaluable contributions to the Group during his tenure of services, the Board will appoint Dr. Ho as Chairman Emeritus of the Company following his retirement,’ the company announced.
Created in 2001 to compete in the post-Macau handover open gaming concession tender, SJM is a subsidiary of Sociedade de Turismo e Diversões de Macau (STDM), SA, the local gaming company founded by Mr. Ho in 1962.
[Edited by Sheyla Zandonai]