SJM Holdings Limited implements succession Program

According to a report by GGRAsia, the series plan announced in April became official following SJM Holdings Limited’s newest annual general meeting on Tuesday with all the 96-year-old businessman subsequently being named as Chairman Emeritus for the Hong Kong-listed casino firm he helped to launch in the early 1960s.

“Dr Ho has verified that he has no disagreement with the board and there’s absolutely no matter that has to be brought to the attention of shareholders of the business in respect of his retirement,” read a Tuesday filing (pdf) out of SJM Holdings Limited, which is responsible for a few 19 Macau casinos such as the iconic Casino Grand Lisboa and also the newer Emperor Palace Casino. “The board expresses its sincere gratitude to Dr Ho for his invaluable contributions in developing a good base for the organization ’s continuing increase in the future.

For her part, Daisy Ho Chiu Fung was reportedly called an executive director for the business a year ago, which will be a role she’s now set to keep, after serving until the end of 2010 as a director for the regional MGM Grand Paradise Limited subsidiary of rival casino operator MGM China Holdings Limited.

SJM also used its Tuesday yearly general meeting to show that 72-year-old, Timothy Fok Tsun Ting, has been appointed to function as the Co-Chairman along with Stanley Ho Hung Sung’s 57-year-old spouse, Angela Leong On Kei, with both due to keep their positions as executive managers.

Eventually, SJM clarified that its shareholders had approved the appointment of its 67-year-old Executive Director and Chief Executive Officer, Thus Shu Fai, to the additional post of Vice-Chairman while furthermore naming 64-year-old Ina Chan Un Chan as an executive director.