Long-time SJM Holdings Vice-Chairman, Executive Director and CEO Ambrose So has officially retired after stepping down at the company’s Annual General Meeting on Thursday.
As first announced in April, Dr So did not seek re-election at Thursday’s AGM, with his retirement also seeing him step down as a member of the Executive Committee, Cotai Project Committee, Nomination Committee and Remuneration Committee of the Board of Directors.
He will, however, remain as an advisor to the company and as a director of SJM Resorts – the subsidiary that holds a Macau gaming concession.
SJM said that, with Dr Ho’s retirement, Executive Director David Shum Hong Kuen has been appointed as authorised representative of the company with effect from 15 June 2023.
“The Board would like to express its appreciation for Dr So’s valuable contribution during his long tenure of office as Vice-Chairman, Executive Director and CEO of the company,” it added.
A long-time, trusted lieutenant to Stanley Ho, Dr So spent nearly 48 years with SJM and its parent STDM, forging a reputation in his latter years as a valuable “peacemaker” between the various factions wrestling for control of the company after its founder fell ill in 2009 following a fall. Stanley Ho passed away in 2020.
SJM operates peninsula integrated resort Grand Lisboa and recently opened Cotai IR Grand Lisboa Palace, plus three “self-promoted casinos” and nine satellite casinos.