Billionaire Kirk Kerkorian will step down in June from the board of MGM Resorts International, the casino company he founded, to become a senior adviser and its first director emeritus.
Kerkorian, 93, MGM Resorts’ biggest shareholder through his Tracinda Corp., said in an interview that his 27 percent stake is ably represented by the board, including Tracinda executives Dan Taylor and Anthony Mandekic, and by Jim Murren, chairman and chief executive officer of the Las Vegas-based resort operator.
Kerkorian said he prefers a more strategic, advisory role, adding he will continue his conversations with Murren, 49, “at least three to four times a week.”
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