James Joseph Murren
born October 5, 1961
An American businessman. He was the chairman and CEO of MGM Resorts International.
Jim Murren attended Roger Ludlowe High School in Fairfield, Connecticut, where he played football and baseball and was a member of the National Honor Society. Murren received his undergraduate degree at Trinity College in Connecticut, where he studied art history and urban studies and attended Cesare Barbieri Center in Rome, Italy. He joined the Wall Street firm of Cyrus J. Lawrence as a securities analyst and earned the Chartered Financial Analyst certification in 1991. He was elected a member of the firm’s Board of Directors, becoming the youngest member ever of the company’s board. During his career on Wall Street, he brought about a pivotal recapitalization of MGM Grand, Inc. in 1996 and served as a Managing Director and the Director of U.S. equity research for Deutsche Bank.
MGM Las Vegas
In 1998, he moved to the corporate sector, joining MGM as CFO and a member of its board of directors. In 1999, he became president and was promoted to chief operating officer in 2007; he became chairman and CEO in December 2008, his 10th year at the company. Under his tenure, the company embarked upon an extremely successful decade of growth. Murren was the architect of $15 billion of acquisitions including Primadonna Resort & Casino in 1998, Mirage Resorts in 2000 and Mandalay Resort Group in 2005—acquisitions that helped transform MGM into the world’s largest gaming company.
In 2008–09, Murren led an extensive reorganization of the company, resulting in over $500 million of annual savings; this, together with a $3.8 billion financing effort, kept the company from failure during the early days of the Great Recession in 2008 and 2009.
During Murren’s tenure, MGM joined with Dubai World in the development of the Las Vegas Strip’s CityCenter. When CityCenter opened in December 2009, it represented the largest single private development and the largest green project ever undertaken in the nation’s history and America’s number one generator of new jobs during the Great Recession.
Under Murren’s leadership, MGM broke ground on May 1, 2014, on another major project in Las Vegas: a privately financed, state-of-the-art, 20,000-seat Las Vegas Arena (T-Mobile Arena) that was developed with sports and entertainment company AEG.
During 2011, according to Forbes, Murren’s total remuneration from MGM was $9.9 million, including $2 million in salary.
On February 12, 2020, MGM Resorts International announced Murren resigned as Chairman and CEO.
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(H/T: Wikipedia)
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