Macau concessionaire SJM Holdings has confirmed Daisy Ho as the new Chairman of the company following the retirement of her father and Macau gaming kingpin Stanley Ho on Tuesday.
Dr Ho – whose company STDM, the parent company of SJM, held a 40-year monopoly on casino gaming in Macau before liberalization – officially stepped down from his role at SJM at the company’s annual general meeting this week.
His position has now been filled by his daughter. Daisy Ho, 53, was already an Executive Director of the company and sits on the boards of a number of other prominent companies including Shun Tak Holdings, where she is Deputy Managing Director and Chief Financial Officer.
Her new role as Chairman of SJM Holdings comes with no fixed term and sees her entitled to an annual base fee of HK$1 million per year and annual allowances of HK$1.3 million from the group, the company announced.
Also promoted to the roles of Co-Chairmen on Tuesday were directors Timothy Fok and Angela Leong, Dr Ho’s wife.
Executive Director and Chief Executive Officer Ambrose So has been appointed Vice-Chairman in addition to his existing positions.
Dr Ho was granted the honorary title of Chairman Emeritus after stepping down.