Galaxy Entertainment Group (GEG) has announced the planned departure of chief financial officer Ted Chan on 27 October.
Chan initially joined the operator in 2018 as the company’s chief operating officer (COO) and has served as chief financial officer (CFO) since March 2023.
He will step down as CFO on 27 October and will officially leave the company on 22 November.
“I deeply appreciate the chairman’s kind support and guidance throughout the years,” said Chan. “It is my privilege to serve this company and work alongside many talented and dedicated colleagues.
“I am grateful for the opportunities, challenges and experiences in GEG over the past seven years. The journey has been both professionally rewarding and personally enriching. I would like to express my deep gratitude for everyone who has been part of it.”
Francis Lui, chairman of GEG, added: “I would like to acknowledge and thank Chan for his efforts and contributions to the group over the past seven years who has decided to pursue personal interests.
“Ted was appointed as the company’s chief financial officer in March 2023. During this period Ted has made valuable contribution to the group in his key leadership role of leading finance operations, corporate finance and investor relations. He played a key leadership role with the management team in consolidating the company’s position as the market leader in the industry. I personally wish him all the very best in his future endeavors.”
Thomas Arasi will assume the role of CFO from Chan and brings more than 35 years of corporate experience across multiple sectors, including financial services and hospitality, with 16 of those years spent at integrated resorts.
Lui remarked: “I am confident that under Tom’s leadership, we will continue to have an exceptionally strong finance function to support the Group’s business performance and strategic growth. Tom will work with Ted to ensure a seamless handover, transition and leadership continuity.”
Shares in Galaxy Entertainment Group Ltd. (HKG:0027) closed 5.47 per cent lower at HK$35.58 per share in Hong Kong Tuesday.