Stanley Ho is to retire from his positions as chairman of Macao's gaming operator SJM Holdings, according to a press release by the company late on Thursday.
The board of directors of the company announced that Ho Hung Sun, Stanley will retire from his positions as chairman and executive director and a member of the executive committee of the board of the company, after the company's annual general meeting to be held on June 12.
The board will also appoint Ho as "chairman emeritus" of the company following his retirement, in recognition of his in contributions to the group.
The board further announced that after the annual general meeting, the board will appoint Ho Chiu Fung, Daisy to succeed as chairman and executive director of the company, Fok Tsun Ting, Timothy and Deputada Leong On Kei, Angela as co-chairmen and executive directors of the company, and So Shu Fai as vice-chairman, executive director and chief executive officer of the company.
The board also announced that Chan Un Chan is recommended by the board for election as an executive director of the company following the retirement of Ho Hung Sun Stanley.