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MGM Resorts Founder Kerkorian To Step Down

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LAS VEGAS (AP) — Billionaire investor and developer Kirk Kerkorian is leaving the board of directors at casino operator MGM Resorts International.

Officials said Thursday that the 93-year-old, known for wielding major holdings in Ford, Chrysler, GM and other companies, will keep an advisory role and may attend board or committee meetings of the Las Vegas company.

Kerkorian, who recently held more than half of MGM Resorts’ stock but now owns much less, leaves the board in June.

He said in a statement released by MGM Resorts that working with the company has been rewarding, and he’ll still regularly consult with CEO Jim Murren and the board.

Murren says he’ll still go to Kerkorian for counsel. The company owns casinos in Las Vegas, in Macau, China, and around the world.

 

Copyright 2011 The Associated Press.

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