Stanley Ho is Macau’s gambling king and one of the richest men in Asia. After serving the Board of Directors of Shun Tak Holdings for more than four decades, he will resign as chairman. His daughter Pansy Ho will take over his position, it was announced on 26 June 2017
The company indicates that the 95-year-old magnate has resigned his position as chairman of Shun Tak Holdings. He has also quit his role as director and is retiring. Stanley Ho was responsible for a huge transformation of the city. He has transformed a sleeping peninsula into the world's largest gambling hub
After a stroke in 2008, Ho, who has four wives and 16 children, involved his family members in managing Shun Tak Holdings. Pansy Ho, 54, was also the director of the company before taking over her father's title as chairman. Her sisters, Daisy and Maisy, also have executive positions within the company.
Pansy was appointed "Justice of the Peace" in 2015 by the government of Macau. She holds a bachelor's degree in marketing and international business from the University of Santa Clara in the United States. She is also director of Tak Shipping Company Limited, Renita Investments Limited, Oakmount Holdings Limited, Beeston Profits Limited, Classic Time Developments Limited, and Megaprosper Investments Limited.
Just like her father, Pansy Ho's appointment will be subject to a re-election at the annual general meeting. She will receive an annual fee of HK $ 50,000 (US $ 6,411) for her role as director of the company, and an additional HK $ 60,000 (US $ 7,693) per year for director of a subsidiary of the company. Ho also receives HK $ 802,837 (US $ 102,945) and a discretionary bonus in connection with her employment agreement with the conglomerate.
Pansy Ho holds 161,865,937 personal shares of Shun Tak Holdings, 428,838,627 in company shares and 148,883,374 unpublished shares of the company.