Imperial Pacific International (IPI), the company behind the Imperial Palace resort on Saipan, is back in the news and the revolving door on the top floor of the company continues to spin. It apparently cannot keep a good chairman on board, as it has been through more than a half dozen in less than two years. Now, in a filing with the Hong Kong Stock Exchange, the company has announced that Cui Li Jie is stepping in to fill the role; for how long is anyone’s guess.
Cui is replacing Xia Yuki Yu, whose sudden resignation left the company without anyone at the helm. Cui has been an executive director for IPI since May of 2017. She reportedly has involvement in real estate and building material trading, as well as “experience in investment.” She is also the sole director of – as well as shareholder of – Inventive Star Lt., which owns over 90 billion shares in IPI.
It’s been a crazy ride for anyone willing to jump on the back of the IPI horse. Marco Teng stepped down as chairman of the company last August, after only being on the job for eight months, and was replaced by Henry Cheang. Cheang was the company’s CEO since January 2018, having replaced Mark Brown, and later was bumped up to chairman in August.
Cheang then stepped down after a brief stint in the role, only to have Brown return as the company’s “interim chairman.” Brown was then supplanted by Xia, who has now been replaced by Cui.