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Macau Legend appoints new CEO

Macau Legend presented its financial results and now announces the resignation and replacement of its CEO
Macau Legend presented its financial results and now announces the resignation and replacement of its CEO

Melinda Chan will take over the position from her husband David Chow.

Macau.- Macau Legend Development Ltd has announced the appointment of Melinda Chan as CEO following the resignation of David Chow, her husband, effective immediately.

According to a filing with the Hong Kong Stock Exchange, Chow will remain as Executive Director and Co-Chairman of the company but will hand over day-to-day operational control in order to provide for “better work allocation and Mr Chow’s decision to focus on the overall business strategic and policy development of the Group.”

Ms Chan will not only assume the CEO role but has also been appointed as an Executive Director following the retirement of Ms Lam Fong Ngo.

Ms Chan is a highly regarded political figure and President of Macau Fisherman’s Wharf International Investment Limited since October 2017.

The news follows the publication of Macau Legend’s financial results for the year ended 31 December 2019, which saw the company slip back to a loss of HK$190 million (€22 million) after recording a profit of HK$1.97 billion (€223 million) in 2018.

However, that 2018 figure was primarily due to the sale of The Landmark Macau, without which Macau Legend would have posted a narrowed loss for the year.

The company said its revenue increased 26.5 per cent year-on-year in 2019 to HK$2.36 billion (€270 million) including a 39.8 per cent rise in gaming revenue to HK$1.90 billion (€219 million).

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