Macau (MNA) – Walter Craig Power has been re-designated from Chief Executive Officer (Executive Director) to Non-Executive Director of South Shore Holdings Limited, a filing of the company within the Hong Kong Stock Exchange noted.
Accordingly, Mr. Power ceased to be a member of the Executive Committee of the company with effect from 1 May 2019.
Peter Lee Coker Jr. is the Chairman and Lau Tom Ko Yuen is Deputy Chairman of the company.
South Shore Holdings is the developer of The 13 luxury hotel which opened last year in Cotai.
Power, aged 65, has been the CEO of the company since February 2013. He is also a member of the Finance and Investment Committee.
The casino veteran has entered into a letter of appointment with the company. He is appointed for a specific term of one year and is subject to retirement by rotation at least once every three years pursuant to the bye-laws of the company.
Power is entitled to receive a director’s fee of HK$347,300 (US$44,270) per annum as determined by the Board pursuant to the authority given by the shareholders of the company at the company’s general meetings and with reference to the prevailing market conditions.
One of the longest serving casino executive expatriates in Macau, Mr. Power arrived in the city in January 2003. He has held the positions of Chief Operating Officer of New Cotai Entertainment, an investor and developer of Macau Studio City, as well as Senior Vice President of Operations of Venetian Macau Limited.
A 27-year gaming industry veteran, Mr. Power gained extensive international gaming experience through executive operational positions at casino resorts in the United States, Argentina, South Africa and the Philippines, in addition to his work in Macau.
A former United States Marine Corps Major and Naval Aviator, Mr. Power received his BA and MBA from the University of Michigan. He is also a graduate of the casino industry’s Executive Development Program offered by the University of Nevada/Reno.