NagaCorp has confirmed that chairman Tim McNally will step down after more than two decades with the Cambodian casino operator.
McNally will step down as chairman and non-executive director of NagaCorp at the end of his current contract on 30 June, having served as chairman since February 2005.
NagaCorp, which operates the integrated resort NagaWorld in the Cambodian capital of Phnom Penh, said that McNally is retiring in order to spend more time with his family.
McNally will be replaced as chairman by NagaCorp deputy chairman Philip Lee Wai Tuck, who has been with the company since 2009 and has served as a director since 2010.
The board thanked McNally for his dedication and the significant contributions he has made to the company during his time as chairman, and congratulated Lee Wai Tuck on his new role.
Shares in NagaCorp Ltd. (HKG:3918) closed 0.56 per cent lower at HK$3.53 per share in Hong Kong Tuesday.