Stanley Ho To Retire As Head Of SJM
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2018-04-13 HKT 00:55
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Stanley Ho will retire as chairman of the Macau casino operator SJM Holdings at its annual general meeting on June 12, according a filing to the Hong Kong Exchanges and Clearing late on Thursday.
Daisy Ho, one of his daughters who is already on the board, will take over the reins of the business. Stanley Ho, 96, will stay on as chairman emeritus to the company.
“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,” SJM said in a statement.
The flamboyant tycoon is one of the region's best-known businessmen. His swashbuckling corporate dealmaking style transformed Macau from a sleepy peninsula into the world’s biggest casino centre.
Last June, Ho stepped down as chairman of the Hong Kong conglomerate Shun Tak Holdings, with his daughter Pansy Ho taking over the position. (Reuters)
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