MGM Resorts International 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.
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.
Roland Hernandez, Lead Independent Director of the MGM Resorts Board of Directors, said: "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."
"Leading MGM Resorts has been the most rewarding and fulfilling experience in my professional career," said 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"
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.
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.
Image source: Las Vegas Weekly