MGM Resorts International has announced two key leadership changes, with Bill Hornbuckle named president and chief operating officer, and Corey Sanders taking over the reigns as chief financial officer.
Set to take effect on March 1, Hornbuckle’s expanding responsibilities will see the overseeing of operations at all enterprise properties, and will lead casino marketing, design and development, human resources and entertainment.
Furthermore, he is to also utilise his experience to lead the operational changes that are part of the MGM 2020 transformation, which the firm recently emphasised a commitment to in its latest financial report.
Hornbuckle said of the enhanced core focus: “This is an important time at MGM Resorts, and I am excited to take on these additional responsibilities as we work together to successfully execute our strategic priorities.
“We have built a strong foundation that has been solidified over the past few years, and I look forward to working directly with our property teams to successfully meet our 2020 goals and continue to grow the company.”
Current COO Sanders is to now lead the strategic financial transformation that forms part of MGM 2020, and will integrate that work with the departments he currently leads including information technology, enterprise analytics, sales and consumer marketing.
Dan D’Arrigo, who currently occupies the CFO role, has taken advantage of the voluntary resignation program offered as part of the new initiative, and will remain with the company in an advisory role for the next month after resigning from the organisation and the board of directors of MGM China.
“The priorities include maximising the performance of our premier properties”
Regarding his new role, Sanders commented: “I am looking forward to taking on this new role at such a transformative time for the company. I am enthusiastic about continuing to work with the rest of the team as we implement MGM 2020, and execute our strategy to position the company for further profitability.”
Jim Murren, Chairman and CEO of MGM Resorts International, explained: “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 organisation 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.
“We thank Dan for his tireless dedication and lasting impact to the company, and wish him the best in his next endeavour.”
Adding on the duo of appointments: “As we implement our MGM 2020 plan and undertake the reorganisation 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 maximising 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.
“Bill is bringing exceptional breadth and depth of industry experience to his expanded role, and will be instrumental in driving change as part of MGM 2020. I am looking forward to continuing to work closely with him and the rest of the management team as we evolve our organisation.”