US gaming operator MGM Resorts International has made changes to its senior management team with Corey Sanders named chief financial officer and Bill Hornbuckle taking over as chief operating officer.
The company said that the changes, effective from 1 March, would streamline responsibilities and help drive the MGM 2020 strategic initiative.
Sanders, currently MGM Resorts’ chief operating officer, will take over as CFO and lead the company’s strategic financial transformation. He will work closely with the departments he currently leads, including information technology, enterprise analytics, sales and consumer marketing.
"I am looking forward to taking on this new role at such a transformative time for the company,” said Sanders. “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."
Sanders replaces Dan D'Arrigo, who has chosen to take advantage 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. D'Arrigo will remain with the company over the next month in an advisory role to ensure a smooth transition.
"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," said MGM Resorts chairman and CEO Jim Murren. "Dan's contributions to our organization have been invaluable.
"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. By appointing Corey CFO, we are well positioned to reach our financial and strategic targets."
MGM Resorts also announced that president Bill Hornbuckle will take on additional responsibilities by taking over as COO.
Alongside his role as president, Hornbuckle will oversee operations at all enterprise properties and will lead casino marketing, design and development, human resources and entertainment.
"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,” added Murren. “I am looking forward to continuing to work closely with him and the rest of the management team as we evolve our organization."
Hornbuckle commented: "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."
Shares in MGM Resorts International (NYQ:MGM) closed down 2.26 per cent at $27.71 per share in New York Friday.