MGM Resorts International Chairman and CEO Jim Murren has announced that he will step down at the expiration of his current contract and once a successor is named.
The shock decision comes 12 years after he stepped into the role in 2008 and 22 years since he first joined MGM Resorts in 1998.
In announcing his departure, Murren – who ranked 16th on Inside Asian Gaming’s 2019 Asian Gaming Power 50 list of the most influential people in Asian Gaming – revealed he will continue to serve as Chairman and CEO until a successor is appointed, with the MGM board having formed a committee of independent directors to “promptly identify and evaluate candidates to assume the role of Chief Executive Officer.”
“Leading MGM Resorts has been the most rewarding and fulfilling experience in my professional career,” Murren said. “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.”
Murren is credited with leading MGM Resorts through the 2008 Global Financial Crisis and has also been instrumental in the company’s international expansion efforts in Japan.
