MGM Resorts International recently announced president and CEO Bill Hornbuckle as the acting Chief Executive Officer and President, who will replace Jim Murren, the outgoing Chairman and CEO.
Murren told the firm’s Board of Directors early February about his objectives to resign before the contract expiration. In the wake of the public health crisis crippling the country as well as the travel sector, he has left the position in order to offer leadership continuity to the Company.
Paul Salem will be replacing Murren as the Chairman of the Board of Directors, who right now is an MGM Resorts Board of Directors and Chairman of MGM resort’s real estate committee, that is in the way of operating the strategy of asset-light.
The nation is facing an unprecedented crisis, causing the travel and hospitality industry to grind to a near halt. It is clear that once the threat to the public health has subsided and we are ready to reopen our resorts and casinos, it will take an incredible effort to ramp back up,
said Paul Salem, Chairman of the MGM Resorts Board of Directors.
A noteworthy contribution of MGM resorts is seen towards the coronavirus outbreak. The company tweets that it is proud to have donated more than 300,000 pounds of eatables, 250,000 meals, to the food banks across the nation in the communities that they operate in. Paul said that they believe that a continued steady and great leadership is required during these difficult times upheaval or uncertainty.
Murren said that he fully supports accelerating the transition of planned leadership to aid MGM Resorts to take care of the highly dynamic environment. He said that he has great faith in Bill Hornbuckle as well as the management team for heading the MGM Resorts for this vital juncture, as they had been under numerous hardships earlier. He said that he would keep dedicating my efforts to aid through this hard time while assisting the State of Nevada during the crisis response as well as the recovery efforts.
Hornbuckle said that
We have an incredible challenge ahead. We have a talented leadership team, the best employees in the world, and a loyal customer base. I have every confidence that MGM Resorts will remain the global entertainment leader once this crisis is contained and it is safe to operate. I look forward to working with Paul and the entire Board of Directors as we plan for the future.