Melco Crown Chief Operating Officer Ted Chan Ying Tat resigned last week “for personal reasons,” according to the Asian casino operator and developer. He has been responsible for operational leadership of the company since February 2012.
Chan will not be replaced. Instead, Chairman and CEO Lawrence Ho will take over operational leadership of the company, according to a news release.
“Melco Crown has been actively evaluating its operations to optimize financial performance with a focus on improving its marketing initiatives and creating a more efficient reporting structure,” the company said.
“We thank Ted for his many contributions to the company over the years, and we wish him all success in his future endeavors,” Ho said in a statement.
According to GGRAsia, Melco Crown said it will be “using this opportunity to transform its leadership structure in a manner designed to streamline operations.”
“Melco Crown’s recent performance has improved, but I believe we have many more near-term opportunities to drive growth and profitability,” said Ho. “The new structure will allow for quicker decision-making and reactions to a fast-changing market, which should make the company even more competitive in this challenging period of time.”
In September JD Clayton, president of Melco Crown’s struggling Studio City casino resort in Macau’s Cotai Strip, left and was replaced by David Sisk, former COO for Sands China Ltd.
Brokerage Sanford Bernstein revealed in a note last week that Melco Crown Senior VP of Gaming Operations Alidad Tash also had left the company.
Earlier this month Melco Crown posted profits of US$62.0 million for the third quarter of 2016, up 86.7 percent year-on-year.
