MGM Resorts International Chairman/CEO Jim Murren informed the company’s board of directors he will step down from his positions before the expiration of his contract at the end of 2021. He plans to continue to serve in his current roles until a successor is appointed.
Murren has served as chairman/CEO since 2008 and been with the company since 1998.
"Leading MGM Resorts has been the most rewarding and fulfilling experience in my professional career," Murren said in a statement. "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."
MGM’s board has formed a committee of independent directors to conduct the search process. This committee is working with an executive search firm to quickly identify and evaluate candidates to fill the role of CEO.
"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," Roland Hernandez, lead independent director of the MGM Resorts board of directors, said in a statement. "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.
MGM Resorts’ portfolio encompasses 29 hotel and destination gaming offerings.