Caesars Entertainment Board member Don Kornstein is retiring as vice chair of the company’s Board at the end of this month.
Kornstein has served on the board of directors of various Caesars entities over the past 12 years and will step down on December 31, at which time Caesars expects to reduce the size of the Board to 11 members.
Kornstein said: “After 12 years of active participation on the various Caesars entity boards, oversight of several strategic initiatives and the current focus on operations, I’ve decided the timing is right for this personal decision.
“As an instrumental participant in the conception and completion of the merger between Caesars and Eldorado, I’ve enjoyed and will always appreciate the collaboration with Tom [Reeg], the board and executive management in furtherance of the combined company’s strategic goals.”
Gary Carano, executive chairman of Caesars Entertainment, commented: “On behalf of the entire board, we thank Don for his many important contributions, dedication and stewardship, and we wish him well in his future endeavors.”
Caesars chief executive Tom Reeg added: “Don has had a tremendous impact on Caesars, which is highlighted by his leadership and wise counsel relating to company and board matters. On behalf of the entire executive management team, we thank Don for his many valuable contributions and wish him well.”
Shares in Caesars Entertainment Inc. (NASDAQ:CZR) closed 1.47 per cent higher at $23.52 per share in New York Wednesday, and were trading 1.44 per cent lower at $23.18 per share in after-hours.