{"id":777015595,"date":"2024-05-17T08:24:23","date_gmt":"2024-05-17T11:24:23","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777015595"},"modified":"2026-04-22T10:08:44","modified_gmt":"2026-04-22T13:08:44","slug":"chen-cherchi-departs-as-nagacorp-ceo","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/chen-cherchi-departs-as-nagacorp-ceo","title":{"rendered":"Chen Cherchi departs as NagaCorp CEO"},"content":{"rendered":"\n<p>Cherchi is the son of the late NagaCorp founder Chen Lip Keong.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Cambodia.-<strong>\u00a0NagaCorp<\/strong>\u00a0has announced through a company filing that\u00a0as of yesterday (Ma 16) <strong>Chen Cherchi\u00a0<\/strong>no longer serves as chief executive officer &#8211; finance and treasury. The company said Cherchi ceased to be a director of NagaGroup Global Limited and NagaCap Limited.<\/p>\n\n\n\n<p>The filing stated: &#8220;Apart from possible disagreement over the termination of his employment by the board, Cherchi has no other disagreement with the board, and there is no other matter which needs to be brought to the attention of the shareholders of the company.\u00a0The company would like to take this opportunity to express its sincere gratitude to Cherchi for his contributions to the company during his tenure.&#8221;<\/p>\n\n\n\n<p>The company said the move \u201cwill not have any material impact on the operations of the group.&#8221;<\/p>\n\n\n\n<p>Cherchi is the son of  NagaCorp founder <strong>Chen Lip Keong<\/strong>, <a href=\"https:\/\/focusgn.com\/asia-pacific\/nagacorp-founder-and-ceo-chen-lip-keong-dies\" target=\"_blank\" rel=\"noreferrer noopener\">who died on December 8, 2023<\/a>, due to illness.<\/p>\n\n\n\n<p><a href=\"https:\/\/focusgn.com\/asia-pacific\/nagacorp-posts-ggr-of-us145m-for-q1\" target=\"_blank\" rel=\"noreferrer noopener\">For the first quarter of the year<\/a>, the company posted gross gaming revenue (GGR) of US$145m, up 23.7 per cent when compared to Q1 2023.\u00a0It reported earnings before interest, tax, depreciation and amortisation (EBITDA) of US$80.3m, up\u00a033 per cent year-on-year.\u00a0GGR for Mass Market table games increased by 34 per cent. The key growth driver was premium mass high-limit table games, up 51 per cent in year-on-year terms.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cherchi is the son of the late NagaCorp founder Chen Lip Keong.<\/p>\n","protected":false},"author":176,"featured_media":18779,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"NagaCorp announced the departure of Chen Cherchi, son of the late founder Chen Lip Keong, from his role as CEO - finance and treasury, effective May 16, citing a \"possible disagreement over the termination of his employment.\" Despite this executive transition, the company reported robust Q1 2024 financial performance, with GGR increasing by 23.7% to US$145m and EBITDA rising by 33% year-on-year.","focusai_entities":"NagaCorp, Chen Cherchi, Chen Lip Keong, NagaGroup Global Limited, NagaCap Limited","focusai_location":"Cambodia","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.8), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Board succession plan?","query":"What specific governance frameworks are in place to ensure a smooth leadership transition following the departure of a key finance executive and the recent passing of the founder?"},{"label":"Impact on capital strategy?","query":"How will the departure of the CEO - finance and treasury impact NagaCorp's capital allocation strategy, debt management, and future M&A considerations, particularly given the strong Q1 financial performance?"}],"footnotes":""},"categories":[157,16333],"tags":[23907,2336],"class_list":["post-777015595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-land-based-casino","tag-nagacorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777015595"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015595\/revisions"}],"predecessor-version":[{"id":777015627,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015595\/revisions\/777015627"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18779"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777015595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}