LAS VEGAS (KTNV) — MGM Resorts International says the company's CEO is stepping down before his contract expires.
On Wednesday, MGM announced that Jim Murren, Chairman and Chief Executive Officer, was stepping down. Murren will continue to serve in his current leadership roles until a replacement is hired, the company says.
Murren has served as chairman and CEO of MGM Resorts since 2008 and has been with the company since 1998.
In a press release regarding the change, Roland Hernandez, Lead Independent Director of the MGM Resorts Board of Directors, said:
"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. 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."
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