Ian Fok, the second son of gaming tycoon Henry Fok, has taken over as the new chairman of Sociedade de Turismo e Diversões (STDM), local media reports.
Ian Fok is the representative of the Fok Foundation, the company which recently announced an alliance with Pansy ho and Shun Tak Holdings to make up 53 percent of SDTM, a company which owns 54 percent of Macau casino operator SJM Holdings.
Ian Fok takes over from founder and casino mogul Stanley Ho, who will formalize plans announced last year to step down from the company.
Mr. Ho recently suffered a stroke in Hong Kong and was hospitalized.
Following Ian Fok’s appointment, Ho’s sister, Nanette Ho has also left the management team, who has been replaced by Maisy Ho, the executive director of Shun Tak Holdings Limited.
Two further members of the Fok family has joined the management team along with current members, Angela Leong, and Ina Chan.