US gaming operator MGM China Holdings Limited announced today that Chief Executive Officer Grant R. Bowie has "notified" the company of his decision to retire with effect from May 31.
The company, which owns two of Macau's 41 casinos, made the announcement in a statement to the Hong Kong Stock Exchange where it is listed.
According to the statement, Bowie "has decided not to extend his contract and elected to step down earlier to match with his personal retirement plans."
The statement added that Bowie, 62, "will remain as an executive director of the company for the handover for a period to be determined by the company."
According to the statement, Bowie "will continue to act as an advisor to the company for a period up to December 31, 2022."
The statement stressed that Bowie "has confirmed that he has no disagreement" with the board of directors "and there are no other matters in relation to his retirement as the CEO of the company which need to be brought to the attention of the shareholders of the company."
The statement also underlined that Bowie expressed his gratitude to the board of directors, Bill Hornbuckle and Pansy Ho Chiu-king in particular, "for their support over the years."
The board of directors also expressed its "sincere gratitude" to the outgoing CEO.
According to MGM China's website, Bowie joined MGM Grand Paradise as president in August 2008. He was president and general manager of Wynn Resorts (Macau) from 2003 to 2007. Before moving to Macau, he spent 16 years with Park Place Entertainment Corporation in Australia, "holding senior positions in gaming, general finance and hotel operations".
According to the website, Bowie was educated in New Zealand and obtained a bachelor's degree in Commerce from the University of Otago in 1980.
This photo taken in May last year shows MGM CEO Grant Bowie speaking to reporters during a dragon boat blessing ceremony at Nam Van Lake Nautical Centre. Photo: Monica Leong
