announces a fresh addition to its board of directors with the appointment of financial heavyweight, John Peter Ben Wang.
Finance industry stalwart tapped for Melco Resorts' board of directors
As an experienced professional, Wang steps into his role as an Independent Non-Executive Director (NED), bringing a hefty dose of financial acumen to the table. His responsibilities stretch beyond his NED role, as he has been tasked with chairing the Audit and Risk Committee and participating in Melco's Compensation and Corporate Governance Committees.
welcome back, John
Wang's appointment represents a return to Melco, as he previously served as a director from 2006 to 2016. His gaming industry experience was further pumped up during a tenure as Deputy Chair and Executive Director of Summit Ascent Holdings Limited, a Hong Kong Stock Exchange-listed company, between 2011 and 2019. Prior to this, he spent five years as Chief Financial Officer (CFO) of Melco International Development Limited.
With a bachelor's degree in Accounting from the University of Kent, Wang is a chartered accountant, adding solid financial credentials to his already impressive profile.
CEO greenlight
Lawrence Ho, Melco's Chair and Chief Executive Officer, acknowledged Wang's addition to the team stating:
This endorsement from the top brass at Melco signifies a strong confidence in Wang's abilities to shape Melco's strategic direction and financial oversight.
recent developments
The timing of Wang's appointment marks a strategically crucial period for Melco, with the company securing a 20-year gaming license in Sri Lanka, retroactive to April 1, 2024, and extending until April 1, 2044. Simultaneously, Melco is aligning with Macau's efforts to diversify its revenue streams beyond gaming, planning to close its Grand Dragon Casino and three Mocha Club slots gaming halls, including Mocha Hotel Royal, Mocha Kuong Fat, and Mocha Grand Dragon Hotel.
John Peter Ben Wang's appointment strengthens Melco's board at a time when the company is navigating regulatory changes and seeking opportunities in the evolving Asian gaming market.
As a result of his appointment, John Peter Ben Wang, a financial heavyweight, will bring extensive business and finance experience to Melco's board, guiding the company's strategic direction and financial oversight, especially during this crucial period marked by regulatory changes and the evolving Asian gaming market.
Lawrence Ho, Melco's CEO, endorsed Wang's role, noting his qualifications and experience will be invaluable to the company, which is further strengthening its board with a focus on shaping Melco's future in the competitive business environment.
