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US – MGM announces Bill Hornbuckle as acting CEO and President

MGM Resorts International has announced that Chief Operating Officer and President Bill Hornbuckle, has been named acting Chief Executive Officer (CEO) and President, replacing outgoing Chairman and CEO Jim Murren.

Mr. Murren informed the company’s Board of Directors in early February of his plans to step down prior to the expiration of his contract, and in light of the public health crisis gripping the nation and the travel industry, has vacated the position as of today so as to provide continuity of leadership for the Company.

Replacing Murren as the Chair of the Board of Directors will be Paul Salem, who currently is a member of the MGM Resorts Board of Directors and Chair of the real estate committee of MGM Resorts, which is in the process of executing the asset light strategy.

“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. “We believe continued steady, skilled leadership is needed in this time of great upheaval and uncertainty. Bill is one of the most experienced operators in the business and we have confidence in his ability to bring this company back online. Jim Murren is an outstanding leader who transformed MGM Resorts during his 22 years. Since Jim announced his stepping down from MGM Resorts, we felt that now more than ever, continuity of leadership was of vital importance.”

“I fully support accelerating the planned leadership transition to help MGM Resorts address the rapidly changing environment,” Mr. Murren said. “I have great confidence in Bill Hornbuckle and the management team to lead MGM Resorts at this critical juncture, as we have together through numerous hardships of the past. I will continue to dedicate my efforts to help during this uncertain time, and I will be assisting the State of Nevada in its crisis response and recovery efforts.”

“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,” said Mr. Hornbuckle. “I look forward to working with Paul and the entire Board of Directors as we plan for the future.”

A four-decade veteran of the gaming industry, Bill Hornbuckle served as President and Chief Operating Officer of MGM Resorts International and is currently an Executive Committee Member and a Board of Director of MGM China Holdings with operations and resorts in Macau. In addition, he is a member of the Board of Directors of MGM Growth Properties (MGM Resorts’ REIT IPO), the CityCenter JV Board of Directors (a joint venture with Dubai World) and the Las Vegas Stadium Authority.

Προηγουμένως ήταν Chief Marketing Officer της MGM Resorts International από το 2009 έως το 2012. Από το 2005 έως τον Αύγουστο του 2009, ο κ. Hornbuckle υπηρέτησε ως Πρόεδρος και Διευθύνων Σύμβουλος του Mandalay Bay Resort & Casino. Προηγουμένως είχε διατελέσει Πρόεδρος και Chief Operating Officer της MGM Resorts International-Europe, όπου εργάστηκε για την ανάπτυξη των δραστηριοτήτων τυχερών παιχνιδιών της Εταιρείας στο Ηνωμένο Βασίλειο. Υπηρέτησε επίσης ως Πρόεδρος και Διευθύνων Σύμβουλος της MGM Grand Las Vegas από το 1998 έως το 2001.

Πριν από το MGM Grand Las Vegas, ο κ. Hornbuckle υπηρέτησε ως Πρόεδρος και Chief Operating Officer για το Caesars Palace, Λας Βέγκας. Πέρασε το μεγαλύτερο μέρος της καριέρας του με την Mirage Resorts σε διάφορες ανώτερες διευθυντικές θέσεις, συμπεριλαμβανομένου του Προέδρου και Διευθύνοντος Συμβούλου της Golden Nugget Laughlin, του Executive Vice President και Chief Operating Officer της Treasure Island και του Vice President of Hotel Operations για το The Mirage, ανοίγοντας το ξενοδοχείο το 1989.