MGM Resorts CEO Jim Murren to Step Down

MGM Resorts International (NYSE: MGM) CEO Jim Murren will be stepping down from that role, leaving a job he's held since 2008. Murren has been with the company since 1998, beginning as CFO and replacing Terry Lanni at a time when the gambling industry was rocked by the subprime mortgage meltdown.

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Much of Murren's legacy involves the streamlining of the organization rather than rebuilding it. Treasure Island was sold in late 2008 shortly after he took the helm, while the Bellagio and Circus Circus were shed late last year. MGM Grand and Mandalay Bay are also nearing a sale, with all of the divesting meant to bolster the parent company's balance sheet.

Source Fool.com