MelcoLot shuffles board, executive management

MelcoLot has announced the appointment of a new chairman and chief executive officer, effective July 10, 2017.

According to a filing from the company on Monday, Mr. Pan Zhengming has been appointed as the chairman of the board, replacing Frank Tsui Che Yin, while Mr. Wang Bingzhong has been appointed as the chief executive officer of the company, replacing Henry Ko Chung Fung.

Mr. Pan has most recently served as the chief executive officer and director of 500.com Limited, which, as of last month, became the controlling shareholder of MelcoLot.

Mr. Wang has been the executive director of MelcoLot since June 17, 2017. The new chief executive officer has also been appointed as a compliance officer of the company as of July 10.  

The company in its filing additionally announced the appointment of new directors, a change in composition of board committees, company secretary, and authorized representatives.