The resignation of Sun International CEO Graeme Stephens, which was announced late on Friday, has been met with surprise by shareholders. Chief financial officer Anthony Lemming will take over in May 2017. Shareholders queried why Stephens, who became CEO in February 2013, was stepping down amid crucial developments in the company that include the launch of Time Square, set to be the second-largest casino in SA, and the company’s offshore expansion into Latin America through a merger with Dreams. Stephens would not elaborate on his new position on Sunday. On Monday New Zealand media reported that he has been appointed as the new CEO of SkyCity Entertainment Group, quashing speculation that he was headed for the financial services industry. In a statement released after the markets closed on Friday, Sun International said that by the time Stephens left in April 2017, he would have achieved all the major objectives set for him by the company’s board. Avior Capital Markets analyst De ...
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