The businessman has officially taken the position of Chief Executive Officer of the company.
Macau.- Levo Chan Weng Lin has officially replaced Melinda Chan Mei Yi as Macau Legend Development’s CEO. The company made the announcement in a filing to the Hong Kong Stock Exchange.
Melinda had held the company’s CEO position since March 2020 after David Chow stepped down.
Macau Legend stated: “Following the change in the chief executive officer of the Company, Mr. Chan will take care of the day-to-day management of the group’s business and implement the Group’s policies, strategic plans and business goals formulated by the Board.”
Melinda Chan will remain as executive director with Levo Chan also holding positions as executive director and the co-chairman of the board in the gaming company.
Levo Chan is also the executive director of junket group Tak Chun and and will now share management powers with founder, David Chow Kam Fai.
His personal stake at Macau Legend Development has recently increased from 20.75 per cent to 33.19 per cent back in November.
However, the businessman had agreed to not acquire shares held by a group of key executives of the company, including David Chow, Chow’s spouse, Melinda Chan, fellow directors Sheldon Trainer and Li Chi Keung, and Chow’s mother and former director, Madam Lam Fong Ngo.
The group of shareholders– which is headed by Levo Chan – currently holds 79.88 per cent of Macau Legend, with David Chow and Melinda Chan holding 26.23 per cent together with their concert parties.