Melco International appoints CFO Geoffrey Davis as Executive Director
Melco International Development Ltd, the parent company of Macau gaming operator Melco Resorts & Entertainment, has announced key board changes, appointing its Chief Financial Officer Geoffrey Stuart Davis as an Executive Director and bringing in telecom veteran Henry Ko Chun Fung as an independent non-executive director.
These appointments follow the recent passing of John William Crawford, a long-serving non-executive director, and help the company meet Hong Kong Stock Exchange requirements regarding board composition.
CFO Davis joins as Executive Director
Melco International confirmed in a stock exchange filing that Geoffrey Stuart Davis, aged 57, has joined the board as an Executive Director. Davis is currently Executive Vice President and CFO of Melco Resorts, as well as Director and CFO of Studio City International Holdings Limited.
He has entered into a letter of appointment with no fixed term and has not signed a separate service contract with Melco International. The company stated that Davis will not receive any additional remuneration for this new role, as he already holds multiple leadership positions within the group.
Davis has been with Melco Resorts since 2007. Before joining the company, he worked as a research analyst at Citigroup Investment Research, covering the US gaming industry from 2001 to 2007.
As of now, Davis holds 895,080 shares and 461,000 underlying shares in Melco International. He also owns 2,125,377 shares and 1,379,130 underlying shares in Melco Resorts.
Henry Ko appointed as Independent Non-Executive Director
In a separate move, Melco International has appointed 65-year-old Henry Ko Chun Fung as an independent non-executive director. Ko brings extensive experience from the technology and lottery sectors across Asia.
Ko is well known for founding iAsia Online Systems Limited, where he served as CEO and Executive Director. Under his leadership, the company became a prominent provider of financial trading solutions in Hong Kong and mainland China.
He later served as CEO and Executive Director of PAL Development Limited, where he launched a lottery business that was acquired by MelcoLot Limited in 2007. Ko subsequently led MelcoLot Limited as CEO and Executive Director from 2008 to 2017.
Ko will receive the following annual fees for his services:
- HK$200,000 (US$25,000) as an independent non-executive director
- HK$100,000 (US$12,500) as a member of the Audit Committee
- HK$40,000 (US$5,000) as chairman of the Remuneration Committee
- HK$40,000 as a member of the Nomination and Corporate Governance Committee
Melco stated that Ko’s appointment brings in “a seasoned professional with a strong track record of successful senior positions in Asia”.
Board aligns with HKEX compliance
With these appointments, Melco International maintains compliance with Hong Kong Stock Exchange listing rules on board composition, particularly regarding the presence of independent non-executive directors.
