Jim Murren Steps Down as Chairman and CEO, MGM to Seek New Candidate

Chairman and Chief Executive Officer of MGM Resorts International, Jim Murren, informed the Company’s board that he will resign from his position. What comes as a surprise is that he plans to do so before the contract expires.

Until the new candidate is appointed, Murren will remain in his current leadership roles. A committee of independent directors, formed by the Board, will conduct the search process to find the appropriate candidate to assume CEO duties.

Promising to remain focused on executing the company’s strategy and commit fully to seamless transition, Murren commented:

“Leading MGM Resorts has been the most rewarding and fulfilling experience in my professional career. 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.”

Next Chapter for the Company

Despite the its already huge reputation.

Roland Hernandez, Lead Independent Director of the MGM Resorts Board of Directors declared:

“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. 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.”

Highlights from Murren’s Career

Serving as Chairman and CEO of MGM Resorts since 2008, Murren has been with the Company since 1998. His impact and leadership have shaped not only MGM Resorts but also Las Vegas as a whole.

As CEO of MGM Resorts…

… he supervised a period of responsible construction unique to the industry. CityCenter remains one of the world’s largest green developments, specifically designed to minimize energy consumption. The Resorts has been recognized 14 consecutive years by Diversity, Inc. as a top corporation for diversity.

Among other contributions, he also has led the Company’s expansion in Asia, with the opening of two facilities in Macau and the current effort to obtain a license in Osaka, Japan.

The establishment of professional sports in Las Vegas was one of Murren’s achievements as well. In addition to this, he was deeply involved in the building of T-Mobile Arena and bringing the Vegas Golden Knights, Las Vegas Aces, and the Las Vegas Raiders to the city.

Source:

“MGM Resorts International Announces CEO Succession And Transition Plan”, prnewswire.com, February 12, 2020.