Melco International Development has named John Crawford JP as an independent non-executive director of the company, chairman of the audit and nomination committees, and member of the corporate governance committee. The three-year term began on September 13.
Crawford is currently an independent non-executive director and chairman of the audit and risk committee at Melco Resorts & Entertainment and Melco Resorts & Entertainment (Philippines). He previously served as an independent non-executive director of Entertainment Gaming Asia, E-Kong Group Ltd, and other Hong Kong-listed firms. He was one of the founders of Ernst & Young’s Hong Kong office.
Crawford replaces 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.
According to Inside Asian Gaming, Melco International said Crawford does not meet the definition of an independent non-executive director due to his connection to the company, but has 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 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 will be paid an annual director’s fee of HK$200,000 (US$25,500), another HK$100,000 as chairman of the audit committee and HK$40,000 as chairman of the nomination committee and member of the corporate governance committee.
