Jim Murren steps down as CEO of MGM Resorts

Current CEO and chairman of MGM Resorts, Jim Murren, told the board of the company that he will step down before his contract expiration.

US.- MGM Resorts International has announced that Jim Murren, Chairman and Chief Executive Officer (CEO), informed the company on Tuesday that he will step down from his position prior to the expiration of his contract.

Murren will continue to serve in his current roles until MGM Resorts appoints a successor. The Board has formed a committee of independent directors to conduct the search process. The company said that it is working with a nationally recognized executive search firm to promptly identify and evaluate candidates to assume the role of Chief Executive Officer.

Murren has served as Chairman and CEO of MGM Resorts since 2008 and has been with the company since 1998. “Leading MGM Resorts has been the most rewarding and fulfilling experience in my professional career,” said Murren.

“It has been an honour 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,” said Murren.

“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.”