Veteran Macau junket investor Jack Lam has resigned from his position as chairman of Jimei International Entertainment Group, effective immediately.

Aside from leaving his chairman post, Lam has also stepped down as executive director, the Hong Kong-listed junket investment company said in a filing on Wednesday.

Lam is replaced by Yan Xu as Jimei International’s chairman of the board, effective on May 31, the company said. Yan has been holding the executive director position in the company since May 11.

Another executive director, Luo Lei, has been appointed as chief executive officer of Jimei International, the company said.