Hong Kong-listed Gaming Operator SJM Holdings has announced that Rui Jose da Cunha, one of the longest-serving advisors to casino mogul Stanley Ho Hung Sun, will not seek re-election at its upcoming annual general meeting (AGM) as one of the company’s executive directors.
SJM announced Cunha’s departure from the board in a statement to the Hong Kong Stock Exchange on Monday.
The statement said that Cunha “does not offer himself for re-election…for the reason of change of his responsibility focus as a result of the Group’s business growth and diversification.”
Cunha, a lawyer by profession, is in his seventies. He heads his eponymous law firm and foundation.
The statement also said that the board of directors was recommending the election of Daisy Ho Chiu Fung to the board “in view of her extensive knowledge and experience in financial functions or a publicly-listed conglomerate, property and hotel development, and travel and hospitality in the Greater China and South East Asia region.”
The statement added that the board “believes that she will provide valuable contributions to the businesses of the Group and her joining will enhance the board diversity of the Company”.
Ho, a daughter of Stanley Ho’s number-two wife, has been deputy managing director and chief financial officer of Hong Kong-listed Shun Tak Holdings since the late 1990s. She is a sister of Pansy Ho Chiu King, co-chairperson of MGM China Holdings.