Galaxy Entertainment Group (GEG) recently announced that former senior executive and current board member Michael Mecca has been redesignated from a non-executive director to an independent non-executive director. The change took effect on March 1.
Mecca was the company’s president and chief operating officer before his April 2018 retirement. Following a four-year “cooling-off period,” he is now eligible to serve in his new capacity, GEG stated.
According to Inside Asian Gaming, Mecca holds more than 1.275 million shares of GEG stock. His new three-year service agreement with the company includes an annual director’s salary of $49,700.
In the past, the executive played a pivotal role in GEG’s international expansion, and helped to complete its acquisition of a 5 percent stake in Monte Carlo-based Societé des Bains de Mer (SBM). He also oversaw the company’s pursuit of a Japan integrated resort license in partnership with SBM.
