LAS VEGAS (KLAS) — Replacements have finally been announced for outgoing MGM Resorts International CEO and Chairman Jim Murren. Chief Operating Officer and President Bill Hornbuckle has been named as the replacement CEO, while Paul Salem — current MGM Resorts Board of Directors member — has been named the new Chairman.
It was announced Sunday afternoon that Murren will be taking control of the newly created “COVID-19 Response, Relief and Recovery Task Force.” Governor Steve Sisolak made the announcement during a press conference Sunday afternoon.
“I fully support accelerating the planned leadership transition to help MGM Resorts address the rapidly changing environment,” 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.”
As for MGM, taking the helm is a 40-year veteran of the gaming industry. 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. He was previously Chief Marketing Officer of MGM Resorts International from 2009 until 2012.
Salem is a senior managing director emeritus at Providence Equity Partners, a world leading private equity firm specializing in the media and communication industries. He served for 27 years as a senior managing director on Providence’s investment team and served as a member of the investment committee and management committees helping grow Providence Equity from $171 million in assets to over $50 billion in his years of service.
Murren had previously announced his plans to step down at the end of his contract last month.