Asian casino operator, Donaco International Limited, has reportedly announced that Chong Kwong Yang is standing down as its Chief Financial Officer ‘after six years of service’ to be replaced by Gordon Lo.
According to a report from GGRAsia, the Sydney-listed firm used an official filing to declare that the changeover is to become official from Wednesday with Chong subsequently set to assist his successor through the completion of an indeterminate ‘handover period.’
Donaco International Limited is responsible for the casino inside northern Vietnam’s Aristo International Hotel and reportedly detailed that Lo until recently served as Chief Financial Officer for Hong Kong-listed investments firm China Ruifeng Renewable Energy Holdings Limited. It purportedly stated that this enterprise is responsible for ‘operating wind farms to generate electricity’ across China while additionally revealing that its latest hire moreover previously held senior positions with WL Gore and Associates (Hong Kong) Limited, K Wah International Holdings Limited and Sanmina-SCI (China) Limited.
Paul Arbuckle, Chief Executive Officer for Donaco Int’l, is himself set to stand down in June while GGRAsia reported that the operator held a shareholders meeting on November 29 that resulted in the removal of its Chairman, Stuart McGregor, as well as a significant rejig of its board. This latter move purportedly led to shares in the Sydney-headquartered firm being briefly suspended owing to the fact that its leadership team did not contain the required minimum pair of Australian residents.
Donaco has since rectified this bourse situation via the appointment of non-executive director Simon Vertullo and the hiring of Mel Ashton to follow McGregor in serving as its Chairman.
Reportedly read a statement from Arbuckle…
“We would like to thank Chong Kwong Yang for his six years of dedicated service with Donaco International Limited and wish him all the best for his future career. I also welcome Gordon Lo to the [Chief Financial Officer] role and look forward to working with him.”