Yibing Mao added to Las Vegas Sands board
In a Tuesday filing in the United States, Las Vegas Sands Corp said that it had appointed Yibing Mao as a board member, starting July 16. She is reportedly a Beijing native.
The group is the parent of Sands China Ltd, the Macau casino operator, and Marina Bay Sands Ltd, the operator of Marina Bay Sands casino resort in Singapore.
Ms. Yibing Mao previously acted as Chief Legal counsel at Asia Pacific, and at Mariott International Inc., according to her dedicated LinkedIn Page. Two of these Marriott brands – St Regis and Sheraton – operate at the Londoner Macao resort in Cotai, Macau, also owned by Sands China.
Sands China’s Macau casino rights will expire in June next year, along with five other operators in the city. Due to these current concessions, it is anticipated that a new public tender for Macau gaming rights will come up at some stage.
In its filing to announce her addition to the board, Las Vegas Sands stated that there were no arrangements between Ms. Yibing Mao and any other party where she was selected as director.
They also noted that there weren't any transactions to which the company or its subsidiaries were involved and in which Ms. Mao has material interest subject to disclosure. This is in accordance with U.S. stock market rules.
The announcement also added that Ms. Mao had not been appointed to any other committees of the Las Vegas Sands board as of that date.
So as a non-employee director, Ms. Mao would be compensated for her services as indicated in their proxy statement for its annual meeting of stockholders, 2021. According to a document filed on March 31, this compensation includes a US$150,000 annual-retainer fee paid to non-employee board members.
The group further states that other annual retainer payments are available if the director gets involved in any board-related committee work.