DOW JONES NEWSWIRES MGM Mirage (MGM) named James J. Murren chairman and chief executive to succeed J. Terrence Lanni, who is retiring as questions arose about his resume.
Lanni, who will remain on the board after being majority shareholder Kirk Kerkorian's top man at the gaming company for 13 years, has been under fire after the University of Southern California said it had no record of Lanni's having earned a master's of business administration that is listed on his corporate biography and resume.
Lanni last week said his decision had nothing to do with the controversy.
MGM Mirage shares rose 3.8% to $11.06 after hours.
Murren, who was recommended by Lanni for the positions, has worked at MGM Mirage for a decade, most recently as president and chief operating officer.
He is taking over at a critical juncture for the company, which is struggling in the face of declining Las Vegas revenue and tourism, and it faces a shaky future as it tries to secure financing to complete a massive condo-and-hotel project on the Las Vegas Strip, called CityCenter. MGM Mirage's net income fell 67% in the third quarter.
-By Jay Miller, Dow Jones Newswires; 201-938-2331; jay.miller@dowjones.com
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(END) Dow Jones Newswires
November 18, 2008 17:12 ET (22:12 GMT)

Publié le 18 novembre 2008 Copyright © 2008 Dowjones