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MGM executive time to step aside
 November 18, 2008, 10:41 am (3 years ago)The chairman and chief supervisory of the US giant land gambling group MGM Mirage, sixty five year old J. Terrence Lanni is retiring at the end of November, a company spokesman has revealed. The resignation has no relation with latest accusations of counterfeit educational argues that have whirled among the senior gambling managerial, Lanni and spokesmen highlighted.
Bloombergs reports that MGM Mirage is majority-owned by billionaire Kirk Kerkorian, and that Lanni has advised the members of directors that President and Chief Operating Officer Jim Murren (47) is the perfect executive to replace him. Lanni wishes to stay on the board.
"It's time for next generation to take over," Lanni explained in a telephone interview with the news agency. He also stated a yearning to have more time with his family. Afterward, he included in a company announcement: “I think it is now time to sit back from permanent engagement and hand the reins to the new generation. Jim [Murren] is completely ready to direct the company throughout these unstable times in the worldwide economy and take it to new stages of expansion and achievement.”
In a following interview with the Las Vegas Review-Journal, Lanni explained: "Honestly, I was about to make this conclusion one year ago. The confrontations that we are dealing as a company I think are best dealt with by a younger person. Jim is the person to guide the company."
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