To be replaced by Pansy Ho
Hong Kong mogul leaves position as Shun Tak Holdings chairman
Stanley Ho, Macau casino tycoon and one of Asia's richest men, has stepped down as chairman of the Hong Kong conglomerate.
2017-06-26
Reading time 32 seg
Stanley Ho, Macau casino tycoon and one of Asia's richest men, has stepped down as chairman of the Hong Kong conglomerate.
The elder Ho, 95, who founded Shun Tak - with business spanning from property to transportation - and served the board for 44 years, will take on the title of chairman emeritus, the company said in a filing to the Hong Kong stock exchange on Friday.
Ho, who heads one of the world's most lucrative gaming businesses through his flagship firm, SJM Holdings, would also cease to be a director or officer at Shun Tak, the company said.
The flamboyant tycoon is one of Hong Kong's best known businessmen.Shielded from challengers by a four-decade monopoly on gambling, Ho helped transform Macau from a sleepy peninsula dotted with seedy, windowless gambling dens into the world's biggest casino center.
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