Former Donaco International Limited Managing Director and CEO Joey Lim has had his employment with the company terminated with immediate effect.
His departure comes three months after Donaco announced that Lim had requested a temporary leave of absence to deal with health and personal matters.
In a filing early Tuesday morning, the company revealed that the absence had now been made permanent, although Lim will remain on the board as a non-executive Director.
His brother, Benjamin Lim, will continue in his role as interim Managing Director and CEO with the board set to commence a recruitment process to hire a permanent CEO.
Ben Lim is currently a director of Donaco Singapore Pte Ltd and is a major shareholder of Genting’s property development arm, Genting Development Sdn Bhd. He also holds a 17.4% stake in Donaco International with his brother.
Donaco operates Star Vegas in Cambodia, located in Poipet on the border with Thailand, as well as Vietnam’s Aristo International Hotel located near the border with China.
