Board and CEO Appointments
Sydney, Sep 3, 2020 AEST (ABN Newswire) - Donaco International Limited (
ASX:DNA) (UGS:FRA) is pleased to announce to provide an update on its Board and CEO search process.
Donaco is pleased to announce the appointment of Mr Lee Bug Huy (aka Techatut Sukcharoenkraisri) as Chief Executive Officer (CEO), effective 3 September 2020. Mr Huy will also remain on the Board as an Executive Director of the Company. Mr Huy has extensive experience in gaming and casino management having been Vice President at the Casino at Star Vegas Casino & Resorts Co, and responsible for developing the model for the slot machine business.
Two additional Independent directors have also been appointed to the Donaco Board, Mr Andrew Phillips and Mr Issaraya Intrapaiboon as two Australian-based, Non-Executive Directors.
Existing Non-Executive Director Mr Paul Porntat Amatavivadhana has been appointed Non-Executive Chairman of Donaco. The appointments are effective 2 September 2020.
As part of this process, and as outlined previously, Non-Executive Chairman Mel Ashton and Non-Executive Director Simon Vertullo have resigned from the Board.
Mr Amatavivadhana brings considerable experience with public listed companies and is a founding principal and CEO of Infinite Capital, a boutique corporate advisory firm based in Bangkok. His broad expertise spans mergers & acquisitions, corporate restructuring and capital raisings. Mr Amatavivadhana is currently an independent director at Sansiri Plc, one of the largest real estate developers in Thailand.
Non-Executive Director Mr Phillips brings over 25 years' experience working in senior financial and commercial management positions with both publicly listed companies and multinationals based in Australia and New Zealand. He has a thorough knowledge of international finance and corporate services and has an extensive network of contacts throughout Asia and the Americas. He has held Executive or Non-Executive Directorships with a number of ASX listed companies and is currently Executive Director, CFO and Company Secretary of Lithium Power International Ltd (ASX:LPI), along with acting as an Independent Director for company, Southern Cross Exploration NL (ASX:SXX).
Non-Executive Director Mr Intrapaiboon has over 20 years' experience in engineering, operation, maintenance and planning within the water sector. He is currently the Manager Treatment Plants for Unitywater, Australian provider of essential water supply and sewage treatment services, bringing in-depth capability in leading large teams and managing an operational budget of $20+ million
Non-Executive Chairman Paul Porntat Amatavivadhana commented: "We are focusing on our strategy to move forward and build Donaco to its highest potential.
"I would also like to thank Mel and Simon for their efforts and contribution to Donaco, having both been dedicated Board members providing counsel to senior management during the challenging times of COVID-19. We wish them all the best in the future.
"We are also extremely pleased by the appointment of Lee Bug Huy as our new CEO, who brings considerable expertise in the casino and gaming industries. Lee is highly regarded in the gaming and leisure industry, and we are confident his experience and drive will lead Donaco forward once the casinos will be fully operational, and we welcome him to his new role."
Mr Lee Bug Huy added: "I am delighted to be appointed CEO of Donaco. I would like to thank the Board and I look forward to working with the rest of the team at Donaco to bring the casinos to fully operational post COVID-19 and borders reopening. We will continue to execute our pragmatic cost control strategy while keeping the market updated with future developments."
About Donaco International Ltd
Donaco International Limited (ASX:DNA) operates leisure, entertainment and associated technology businesses across the Asia Pacific region.
Donaco's largest business is the Star Vegas Resort & Club, a successful casino and hotel complex in Poipet, Cambodia, on the border with Thailand. Star Vegas was established in 1999, and is the largest and highest quality of the Poipet casino hotels. The property has more than 100 gaming tables, more than 1400 slot machines, and 385 hotel rooms.
Donaco's flagship business is the Aristo International Hotel, a successful boutique casino in northern Vietnam, located on the border with Yunnan Province, China. Established in 2002, the property has recently been expanded to a brand new five star resort complex with 400 hotel rooms. Donaco is a pioneer casino operator in Vietnam, and owns a 95% interest in the business, in a joint venture with the Government of Vietnam.
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