Jacobs Out in Sands China
In a perhaps not surprising move, Steve Jacobs has been removed as CEO of Sands China.
Jacobs had been publicly corrected by Las Vegas Sands CEO Sheldon Adelson some weeks ago in comments about Asian expansion during the opening of Marina Bay Sands in April.
Jacobs will be temporarily replaced by LVS COO Mike Leven until a successor is found.
Joe Greff of JP Morgan and Chris Woronka of Deutsche Bank this morning suggested LVS stock could sell off as investors believed Jacobs had done a solid job at Sands China, including in cost cutting.