Murren (l) said that despite stepping down, he won't be leaving the company "anytime soon"GETTY IMAGES
MGM Resorts Int'l Chair & CEO JIM MURREN is "stepping down from both positions" after 22 years at the company, according to Bailey Schulz of the LAS VEGAS REVIEW-JOURNAL. Murren said that his departure will "allow someone to step in and lead MGM through a new period of growth, one that has a greater focus on industries like sports." Schulz notes Murren will "remain active in both roles until a successor is chosen." The transition to a new CEO "won't be quick." Murren said that he "won't be leaving MGM 'anytime soon' and plans to lead the company's next earnings call." MGM in a statement said that Murren was "'instrumental' in establishing professional sports in Las Vegas" with the building of T-Mobile Arena and bringing the Golden Knights, Raiders and WNBA Aces to the city. Schultz notes Murren's departure "could open up an opportunity to split the chairmanship roles of MGM Resorts and MGM Growth Properties, its affiliated gaming real estate investment trust" (LAS VEGAS REVIEW-JOURNAL, 2/13). The WALL STREET JOURNAL's Katherine Sayre notes since Murren's tenure, the company has "shifted its focus away from gambling and into entertainment, resort offerings and sports betting" in the U.S. (WALL STREET JOURNAL, 2/13).
