Last Tuesday, Asian casino operator Donaco International Ltd. announced that it had terminated the employment of Chief Executive Officer Joey Lim “with immediate effect.” Lim, a member of the family that founded Malaysian casino giant Genting, had been on leave since early December due to illness; he will stay on as a non-executive board director, reported GGRAsia.
As of October, Lim and his brother, Donaco non-executive director Ben Lim, controlled 41.13 percent of Donaco shares. Earlier this month the firm informed the Australian Securities Exchange that 27.25 percent of shares formerly controlled by Lim family members had been acquired by others.
According to the March 19 filing, Joey Lim remains on the Donaco board as a non-executive director and Ben Lim “currently remains as interim managing and CEO. The board will commence a recruitment process to hire a permanent CEO.”
