GGRAsia – LVS boss Adelson takes medical go away as a consequence of most cancers
LVS boss Adelson is on vacation because of cancer
Sheldon Adelson (pictured in a file photo), chairman and general manager of US-based casino operator Las Vegas Sands Corp (LVS), is saying goodbye to medical absence “with immediate effect” to receive treatment for lymphoma cancer, said a Thursday statement from the group.
Las Vegas Sands is the parent company of Macau casino operator Sands China Ltd. Mr. Adelson is also Chairman and CEO of the Macau Unit.
This is the second time recently that Mr. Adelson has been outside of his duties due to lymphoma.
It was created during a lawsuit in March 2019 that he had been absent from his office since December 2018. He was announced in March 2019 was treated for non-Hodgkins lymphoma, but at the time the company said that Mr. Adelson was still “doing his duty” as chairman and CEO. He returned to his “regular” guest [working] Schedule “mid-2019.
The file filed on Thursday states that Robert Goldstein, the group’s president and chief operating officer, will continue to assume these roles while also becoming acting CEO and acting chairman of Las Vegas Sands and Sands China, effective immediately.
Mr. Goldstein has been President and COO – and a member of the board of directors of Las Vegas Sands – since 2015 and has “held various leadership positions since joining the company in 1995,” according to the US filing.
In a separate announcement on Thursday on the Hong Kong Stock Exchange, Sands China announced that it had appointed Grant Chum Kwan Lock to the company’s board of directors. Mr. Chum appointed as Chief Operating Officer of Sands China last February. He also acts as the company’s executive vice president.
At the time of the group’s April 2020 investor proxy statement, currently 87-year-old Adelson, his wife and family held 56.6 percent of the group’s outstanding common stock.
The company’s 2019 Annual Report, published last February, stated: “Our ability to maintain our competitive position depends to a large extent on the services of our senior management team, including Sheldon G. Adelson, Robert G. Goldstein and Patrick Dumont. ”
It added, “The loss of their services, or those of other officers, or the inability to attract and retain additional managerial staff could have a material adverse effect on our business.”
Comments are closed.