Japan-based Universal Entertainment Corp, parent of the Okada Manila casino resort in the Philippines, has announced a new management setup.
The update followed its annual shareholder meeting on Thursday. Universal Entertainment said the “new management structure” – featuring a board and 12 executive officers – aimed to “reduce excessive concentration of authority” and to “facilitate speedier decision making”.
The company outlined in commentary after the annual meeting: “The board of directors will make decisions on broad business strategies.
“Directors will appropriately supervise executive officers, thereby further strengthening UEC’s [Universal Entertainment Corp’s] governance structure and striving for sustainable growth of the company and enhancement of corporate value over medium to long term.”
The meeting itself had seen the appointment by Universal Entertainment, of four directors, plus a board member for audit and supervisory matters.
Three of the four directors involved are reappointments, namely: Tomohiro Okada, who is also president of Universal Entertainment; Masayoshi Miyanaga; and Hiroshi Miyauchi.
The fresh appointment, flagged in February, is Yoshiyuki Shouji. He will deal with “overseas business management” and “legal and IP management”.
Philippines-based Tiger Resort, Leisure and Entertainment Inc (TRLEI), a unit of Universal Entertainment, is responsible for the operations of Okada Manila.
The Univeral Entertainment shareholders additionally agreed on Thursday a full-time audit and supervisory board member, Kuninobu Okuda.
The overall parent of Universal Entertainment is privately-held Hong Kong firm Okada Holdings Ltd. Mr Tomohiro Okada – a son of Kazuo Okada, the ousted founder of the Japanese gaming conglomerate – is also a director of the holding entity.
Okada Holdings owns 70.30 percent of the voting rights of Universal Entertainment.
