LAS VEGAS, Feb. 12, 2020 /PRNewswire/ -- MGM Resorts
International (NYSE:MGM) ("MGM Resorts" or the "Company") today
announced that Jim Murren, Chairman
and Chief Executive Officer, has informed the Company's Board of
Directors that he will step down from his position as Chairman and
Chief Executive Officer of the Company prior to the expiration of
his contract. Mr. Murren will continue to serve in his current
leadership roles until a successor is appointed. The Board has
formed a committee of independent directors to conduct the search
process. The committee is working with a nationally recognized
executive search firm to promptly identify and evaluate candidates
to assume the role of Chief Executive Officer.
"On behalf of the entire MGM Resorts Board of Directors, I want
to thank Jim for his years of dedication to the Company and the
community," said Roland Hernandez,
Lead Independent Director of the MGM Resorts Board of Directors.
"Jim has led the Company through growth, transforming it into a
global entertainment company with a worldwide footprint and
creating value for MGM Resorts shareholders. As CEO, he has
spearheaded significant achievements across our properties,
including the development of the CityCenter destination and has
turned resorts into showcases of entertainment and sophisticated
architecture. The Board is focused on continuing to create
long-term value for MGM Resorts shareholders. The search committee,
along with the entire Board, will be dedicating significant
attention and resources towards identifying and naming Jim's
successor. Jim will continue to lead the Company during this
process. We will also look to the talented management team in place
to help guide the Company into this next chapter."
"Leading MGM Resorts has been the most rewarding and fulfilling
experience in my professional career," said Mr. Murren. "It has
been an honor to work with such a talented group of men and women
who provide millions of guests with memorable life experiences
every day all over the world. We have a solid leadership team in
place, and I am confident that they will work with my successor to
continue the Company's trajectory of growth and expansion. Until my
successor is named, I will continue to lead this Company just as I
always have and will remain focused on executing our strategy and
am fully committed to supporting a seamless transition."
Mr. Murren has served as Chairman and CEO of MGM Resorts since
2008 and has been with the Company since 1998. His impact and
leadership has shaped not only MGM Resorts, but also Las Vegas as a whole. He was instrumental in
the establishment of professional sports in Las Vegas, and he was deeply involved in the
building of T-Mobile Arena and bringing the Vegas Golden Knights,
the Las Vegas Aces and the Las Vegas Raiders to the city. Mr.
Murren was an early and strong supporter of diversity, inclusion,
and sustainability in Las Vegas.
As CEO of MGM Resorts, he oversaw a period of responsible
construction unique to the industry. CityCenter remains one of the
world's largest green developments, specifically designed to reduce
energy consumption, and MGM has been recognized 14 consecutive
years by Diversity, Inc. as a top company for diversity. Mr.
Murren also has led the MGM Resorts' expansion in Asia, with the opening of two properties in
Macau and the current effort to
obtain a license in Osaka, Japan.
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is an S&P 500® global
entertainment company with national and international locations
featuring best-in-class hotels and casinos, state-of-the-art
meetings and conference spaces, incredible live and theatrical
entertainment experiences, and an extensive array of restaurant,
nightlife and retail offerings. MGM Resorts creates immersive,
iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts
portfolio encompasses 29 unique hotel and destination gaming
offerings including some of the most recognizable resort brands in
the industry. Expanding throughout the U.S. and around the world,
the company recently acquired the operations of Empire City Casino
in New York and Hard Rock Rocksino
in Ohio, which was rebranded as
MGM Northfield Park. In 2018, MGM Resorts opened MGM Springfield in
Massachusetts, MGM COTAI in
Macau, and the first
Bellagio-branded hotel in Shanghai. The over 80,000 global employees of
MGM Resorts are proud of their company for being recognized as one
of FORTUNE® Magazine's World's Most Admired Companies®. For more
information visit us at www.mgmresorts.com.
Media Contact
Debra DeShong
202-855-8046
Media@mgmresorts.com
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SOURCE MGM Resorts International