AGI clarifies management changes at Newport World Resorts

Alliance Global Group says the changes were related to a planned transition following its acquisition of the resort operator.

The Philippines.- Alliance Global Group (AGI), the parent company of Newport World Resorts, has explained that recent management changes at the integrated resort (IR) were part of a planned transition following its acquisition of full ownership of the resort’s operating company, Travellers International Hotel Group (TIHGI).

In a filing with the Philippine Stock Exchange, AGI said the departures of Kingson U. Sian, Hakan Dagtas, and Bernard Than, who were the president, chief operating officer, and chief financial officer of TIHGI respectively, marked the conclusion of a year-long transition period initiated after AGI assumed complete ownership on May 30, 2023. The executives left the company on June 1.

AGI said Kingson Sian had postponed his planned retirement in 2022 to guide the company through the transition. Nilo Rodriguez, formerly the CFO of Philippine Airlines, is now CEO, and Lance Gatreaux, previously the chief casino officer, has been promoted to COO.

Alliance Global Group says the changes were related to a planned transition following its acquisition of the resort operator. The Philippines.- Alliance Global Group (AGI), the parent company of Newport…