Best Sunshine CEO Mark Brown is set to vacate his current role to take up a position as Chairman of the Board.
In a statement to local newspaper Marianis Variety over the weekend, Brown refuted suggestions that he had resigned as CEO of the company but confirmed his replacement, current Imperial Pacific Chief Operating Officer Kwong Yiu-ling, would handle Best Sunshine’s day to day operations.
“I did not resign. That’s incorrect,” Brown said. “We are now structuring the company to be more efficient. YL Kwong will be in charge of day-to-day operations in Saipan.”
An official announcement is expected in the coming days.
Imperial Pacific last week had its corporate rating downgraded among growing concerns over its ability to secure sufficient funding to complete its Grand Marina project.
The company has been looking to raise at least US$60 million in bonds to fund completion of Phase 1 of its permanent facility – Imperial Pacific Resort Hotel – in Saipan.
