Caesars Entertainment’s search for a new CEO continues
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The present CEO of Caesars Entertainment, Mark Frissora, has plans to step down from the position in February 2019. The search for his successor is still continuing. It could take several months for the company to find the right person for the job.
Carlo Santarelli, one of the Deutsche Bank gaming analyst says that Caesars is unlikely to name an interim CEO, and that could prompt Frissora to remain in the position longer than his planned February departure.
CDC Gaming Reports that the casino operator is prepared to allow the search to go on for “as long as it takes to find the best candidate and Frissora will remain as CEO until that happens.”
Frissora joined Caesars in 2015 and led the company even though the most complex bankruptcies in recent US business history. He was paid $23.9 million last year, which is the third highest in the gaming industry.
Caesars Entertainment has not publicly revealed to any of their potential suitors about the considering for the CEO job. As per Santarelli, the company may be pursuing CEOs who have experience in gaming industry and consumer brand industry.
After Steve Wynn’s alleged sexual misconduct came to light last year, the chances of a female to become the CEO is very less.
According to Fortune, there were just 24 female CEOs of the Fortune 500 companies. The gaming industry had none.
After the second quarter conference call by the CEO, rumours began to circulate as the CEO told that the company was seeing a softening in Las Vegas demand. The advisory caused a panic on Wall Street, with NASDAQ halting trading of Caesars after shares fell as much as 24 per cent.
Source: Latest News on European Gaming Media Network…
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