Sands China searches for new CEO
Publicly traded Sands China, the Macau arm of Las Vegas Sands, announced the departure of CEO Steve Jacobs.
The company didn't provide a reason, but The Wall Street Journal reported Las Vegas Sands CEO Sheldon Adelson has been critical of public comments Jacobs recently made about the possibility of expanding in Japan.
Michael Leven, chief operating officer of Las Vegas Sands, was named acting CEO of the Hong Kong-listed company. He will work with a special committee of the Sands China board in selecting a permanent replacement.
J.P. Morgan analyst Joseph Greff said in a research note that investors may be worried since most felt Jacobs was doing a good job.
Sands China owns the Venetian Macao, the Sands Macao and the Plaza Macao.