Melco International Development Ltd has announced the appointment of Mr John William Crawford, JP, as a non-executive director of the company.
Crawford, already on the board of Melco Resorts & Entertainment and Melco Resorts and Entertainment (Philippines) Corporation, replaces Dr Anthony Tyen Kan Hee who announced his retirement in June. His appointment restores the number of independent non-executive directors to the minimum number of three required by the Hong Kong Stock Exchange.
The 77-year-old previously served as an independent non-executive director of Melco subsidiary Entertainment Gaming Asia Inc, of E-Kong Group Limited and various other publicly listed companies in Hong Kong.
In announcing his appointment, Melco International Development said that although Crawford is unable to meet the independence guidelines for independent non-executive directors due to his connections to the company, it had successfully demonstrated his independence due to “not being involved in any executive or day-to-day management responsibilities of Melco Resorts in connection with his role at Melco Resorts.” It added that, since Melco Resorts Philippines delisted from the Philippines Stock Exchange in June, he has served as an independent director rather than an independent non-executive director of the subsidiary.
Crawford has entered into a letter of appointment with the company for a term of three years, expiring on 12 September 2022, and will be paid an annual director’s fee of HK$200,000, another HK$100,000 as Chairman of the Audit Committee and HK$40,000 as Chairman of the Nomination Committee and a member of the Corporate Governance Committee.