Hong Kong-listed Russian integrated resort operator Summit Ascent Holdings continues to revamp its board following Suncity Group’s recent acquisition of a 27.95% stake.
In a Friday filing, Summit Ascent said that Gerard Joseph McMahon had resigned as an independent non-executive director, replaced by Lam Kwan Sing. Lam, 49, has over 20 years of experience in the commercial and corporate finance fields, is executive director and CEO of SFund International Holdings Limited and is an independent non-executive director of Hao Tian Development Group Limited.
His appointment follows a series of recent board changes, the most notable being the appointment of Suncity boss Alvin Chau as Chairman. Suncity’s Executive Director and Chief Investment Officer, Andrew Lo, was named Deputy Chairman of Summit Ascent in April, while Lo’s brother-in-law Chiu King Yan was named an Executive Director at the same time.
Suncity CFO Philip Wong was appointed as a non-executive director of Summit Ascent last month.
Summit Ascent is currently developing Phase 2 of its Tigre de Cristal integrated resort near Vladivostok in Russia.