Bilyonaryo Kevin Tan’s bold and shocking move to shake up the leadership of Newport World Resorts (formerly Resorts World Manila) has sparked speculation about potential financial misconduct behind their sudden departure.
The official press release offered little insight into the retirement of long-time CEO Kingson Sian and the simultaneous resignations of COO Hakan Dagtas and CFO Bernard Than last Saturday, June 1. Tan filled up the vacancies on the same day with former Philippine Airlines CFO Nilo Rodriguez as the new CEO and former Chief Casino Officer Lance Gautreaux as COO.
Their abrupt exit, particularly Sian’s departure after three decades within Andrew Tan’s business empire, including Alliance Global and Megaworld, has sent shockwaves throughout the business community, prompting widespread speculation about the real reasons behind the extensive overhaul.
A Babbler pointed out that Tan himself may have disclosed the potential reason behind their dismissal during a recent town hall meeting.
Without naming names, Tan hinted at financial misconduct as the catalyst for the executives’ swift exit: “Anyone who crosses the line, whether long serving or new, regardless of their position, will face consequences for wrongdoing.”
Although Tan refrained from directly accusing the former executives, his statements underscored the paramount importance of integrity within the family business under his leadership. With a firm stance, Tan seems determined to guide the company according to his vision, sending a clear message of compliance or repercussion.