MGM Resorts CEO Murren stepping down
MGM Resorts CEO Jim Murren is leaving after more than a decade.
Murren will end his tenure early before his contract expires, and will also resign the chairmanship.
However he will stay on until a successor is announced.
Murren joined MGM in 1998 and was appointed CEO and chairman a decade later.
"I really feel that after 12 years, and especially after the last few years, we’ve really changed the dynamic of this company. The company’s never been in a better position than it is now," Murren said.
He is stepping down as the industry is bracing for tough times.
Its biggest money spinners are currently closed after the Macau government ordered all casinos to shut to help curb the spread of the coronavirus epidemic.
The company scrapped its earnings guidance for this year due to the uncertainty and ‘increased volatility’ over coronavirus.
MGM reported Q4 net income of $2 billion.
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