MGM CEO Jim Murren Stepping Down

Jim Murren, the long-time chairman and CEO of MGM Resorts International, announced Wednesday that he plans to step down before his contract expires, departing as the company lobbies for a license to build an integrated resort in Japan and deals with the enforced closure of its Macau properties.

On an earnings conference call Wednesday, Murren said that MGM’s board will conduct a comprehensive search for his successor. He told analysts he did not make the decision lightly.

“I will do whatever I can to assist the board,” Murren said. “I’ve accomplished a lot and I’m proud of what the company has become. I will continue to lead the company until a successor is found.”

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