As part of its highly touted MGM 2020 initiative, MGM Resorts International has made changes to its leadership team and set in motion a streamlining of responsibilities. All changes will become effective from March 1 this year.
Current Chief Operating Officer Corey Sanders will be appointed Chief Financial Officer and will lead the firm’s strategic financial transformation, integrating that work with the departments he currently leads including information technology, enterprise analytics, sales and consumer marketing.
Current Chief Financial Officer Dan D’Arrigo leaves the firm under the auspices of the voluntary resignation program offered as part of MGM 2020 and will be resigning from the company and the Board of Directors of MGM China. He will remain over the next month in an advisory role to ensure a smooth transition.
Bill Hornbuckle will add to his President’s role, taking the job of Chief Operating Officer of MGM Resorts. He will oversee operations at all enterprise properties and will lead casino marketing, design and development, human resources and entertainment.
On D’Arrigo’s departure, Chairman and CEO Jim Murren commented: “In the more than 23 years of service to the company, Dan has shown great leadership and is leaving us with an exemplary set of professionals who will support Corey in his new role. Dan’s contributions to our organization have been invaluable. Over the years, in addition to establishing an incredibly strong finance team, Dan has led billions of dollars in capital market transactions and was instrumental in the acquisitions of Mirage Resorts and Mandalay Resort Group.”
He continued: “As we implement our MGM 2020 plan and undertake the reorganization of the company’s operating model, and given Dan’s decision, we took the opportunity to thoughtfully examine our leadership roles.
“Corey’s expertise and intimate knowledge of both the operational and financial structures of MGM Resorts make him uniquely positioned to integrate those operational and financial activities in order to drive efficiency and execute our strategic priorities. The priorities include maximizing the performance of our premier properties and driving consolidated free cash flow growth. By appointing Corey CFO, we are well positioned to reach our financial and strategic targets.”