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Industry leaders join Asian Coast Development board

Asian Coast Development Ltd. (ACDL), developer of The Grand Ho Tram, has announced the appointment of Mr. Tony Podesta and Ms. Loretta Pickus to its board of directors.

The two independent board members bring half century of experience in the hospitality industry and government affairs, said the company in a press release.

Executive chairman and CEO of ACDL Mr. Michael Kelly commented, “In the first weeks of Tony and Loretta’s appointment, we have already seen them bring to the table a depth and breadth of experience and understanding that will help drive our business forward in the years to come.”

Principal investor of the Grand and founder of Harbinger Capital Mr. Philip Falcone also celebrated Tony and Loretta’s nomination to the Board, saying: “I have seen The Grand Ho Tram re-energize under the leadership of Michael Kelly – the addition of Tony and Loretta to our Board is another vital step toward accelerating development at The Grand Ho Tram and supporting the Government of Vietnam’s efforts to increase the share of the national income generated by tourism.”

The appointment of Mr. Tony Podesta, a long-time friend and advocate for the Government of Vietnam in the United States, is said to underscore ACDL’s intention to strengthen its partnership with Vietnam and forge stronger Vietnam-U.S. relations.

Mr. Podesta, dubbed “one of Washington’s greatest players” by the New York Times, is a prominent figure in the Democratic Party and engages frequently with U.S. and international policy influencers who recognize his political acumen.

On the other hand, Ms. Pickus brings a quarter-century of experience in hospitality, strategic planning, and legal affairs to ACDL. Most notably, she served as the vice president of Trump Entertainment Resorts, managing 8,500 employees and ensuring the company’s compliance with complex regulatory environments around the world.

Ms. Pickus’ experience will be a particularly important asset as Vietnam takes steps to boost the country’s tourism industry and reform its legal framework pertaining to integrated resorts, said the company.

Ms. Pickus and Mr. Podesta replace outgoing Board members Mr. Bill Thompson and Mr. Byron Sproule on the 7-person Board chaired by Mr. Kelly, both of whom have stepped down to pursue other opportunities.

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