On April 5, Hong Kong-listed casino operator NagaCorp Ltd. appointed three new chief executives, all sons of founder Chen Lip Keong, who now holds the title of senior chief executive. According to the Cambodia Daily, the elder Chen is “accelerating the family succession plan” with the “re-designation” of senior management.
Chen Yiy Fon, an executive director, is now CEO of operations. Chen Cherchi, managing director of finance, is now CEO of finance and treasury. And Chen Yiy Hwuan has become CEO of hotels.
In another appointments, Anthony Cheung King Man, director of capital investment and corporate finance, has become NagaCorp’s chief financial officer, and Sean Czoon was redesignated from group CFO to CFO of the founder’s office.
In a filing to the Hong Kong Stock Exchange, the company said Chen senior is “strongly and firmly in grip to lead and manage the group,” which operates NagaWorld in the Cambodian capital of Phnom Penh. It said he would be “providing directions and strategies as well as overseeing the day-to-day operations of the group,” and added that the four CEOs “shall work together as a team to lead and manage the group to bring the group to the next level of success.”
Tim McNally will stay on as group chairman. Philip Lee Wai Tuck will remain as executive deputy chairman, and Mike Ngai Wai Yip stays as chief operating officer. Chen Yepern, managing director in the “CEO cabinet” and a fourth son of the founder, will continue to lead the environmental, social and governance activities of the group.
