MGM Resorts announces new CEO after Murren departure
MGM President Bill Hornbuckle is now the casino operator’s interim CEO
A few important changes come to MGM Resorts International after Jim Murren announced last month that he would be departing. The casino operator has now announced that he will be replaced by Bill Hornbuckle as the new acting CEO of MGM, and Paul Salem, who is a member of the board, will become its chairman. This news followed up Murren’s announcement last month in which he said to be planning on leaving the company before the contract ended, although he said he would stay with MGM for the time being.
Salem is confident that Hornbuckle is up for a momentous task as the casino industry reels from losses due to the coronavirus. He asserts, “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. 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 he’s stepping down from MGM Resorts, we felt that now more than ever, continuity of leadership was of vital importance.”
Hornbuckle has served as MGM’s president and COO before this new appointment and has over four decades of experience in the gaming industry. He has held similar positions in other MGM locations as well as similar positions for other gaming companies such as Mandalay Bay Resort and Casino. He acknowledged having an “incredible challenge” ahead.
As far as Murren is concerned, he’s off to fight the coronavirus war. Nevada Governor Steve Sisolak has recruited him to take part in a task force that oversees the response to the outbreak of the coronavirus, a decision that has received mixed results because of his lack of experience in the health industry.