MGM Resorts International has announced the appointment of Paul Salem to the company’s Board of Directors, expanding the board from 12 to 13 directors.
Salem arrives from Providence Equity Partners L.L.C, a premier global asset management firm, which he has seen grow from approximately $170 million in assets to nearly $60 billion in assets under management across complementary private equity and credit businesses.
“Mr. Salem is a distinguished leader with over 26 years of experience in the financial services industry. Paul brings invaluable insight in corporate finance and asset management, and his strong track record of value creation has earned him an outstanding reputation within the investment and not-for-profit communities,” said Jim Murren, Chairman and CEO of MGM Resorts. “We look forward to benefitting from Paul’s expertise as we continue to focus on executing the Company’s long-term strategy.
“With the addition of Paul, the MGM Resorts Board has added three independent directors since 2017. These appointments underscore the Company’s commitment to proactively enhance its Board and ensure that we have an appropriate mix of skills, experience and perspectives to successfully grow our business and drive sustainable value creation.”
Salem joined Providence Equity in 1992, where he has since served in several leadership positions and been instrumental in establishing the firm’s London office, helping to create Benefit Street Partners, Providence’s credit affiliate and leading the acquisition of Merganser Capital. Prior to joining Providence Equity, he. Salem worked for Morgan Stanley in corporate finance and mergers and acquisition and for Prudential Investment Corporation, an affiliate of Prudential Insurance, in private placement financings and leveraged buyout transactions.
He currently serves as a director of Grupo TorreSur and previously served as a director of Asurion, Eircom, Madison River Telecom, MetroNet (formerly AT&T Canada), PanAmSat, Tele1 Europe, Verio, Wired Magazine and several other Providence investments.
