A second Imperial Pacific International board member has resigned in less than a week’s time. Cai Lingli, a relative of IPI majority owner Cui Li Jie, has stepped down as a director of the company and chairwoman of the executive committee.
Cai found the exit just seven days after Marco Teng announced the end of his seven-month role as IPI chairman.
In a filing to the Hong Kong Stock Exchange, IPI said, “Considering that the business of the group has been growing and the current management is capable of leading further development of the group, Ms. Cai wishes to devote additional time to her family and other personal business commitments.”
Her responsibilities and Teng’s have been assumed by Executive Director Xia Yuki Yu, who is also a director of a number of IPI subsidiaries and has been on the board since November 2013. IPI says Xia has more than 15 years of experience in PR and marketing and has held executive positions in “various enterprise groups” in the gaming industry. She owns a minor 0.27 percent stake in IPI.
The two board members depart amid headlines that IPI has experienced delays making payroll, despite record-generating VIP turnover at the sole casino resort in the Commonwealth of the Northern Mariana Islands.
