James Murren

James J. Murren (Jim) is Chairman and CEO of MGM Resorts International, headquartered in Las Vegas, Nevada.

Jim Murren, Chairman and CEO of MGM Resorts International

Early career

Jim Murren attended Roger Ludlowe High School in Fairfield, CT, where he was a member of the Flying Tigers cross country team coached by J. Carter O'Dwyer. Murren received his undergraduate degree at Trinity College where he studied art history and urban planning., and continued studies 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.

At MGM

In 1998, he moved to the corporate sector, joining MGM as CFO and 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 Primmadonna in 1998, Mirage Resorts in 2000, and Mandalay Resort Group in 2005—acquisitions that helped transform MGM into the world's largest largest gaming company. He was repeatedly honored as the gaming and lodging industry’s top CFO by Institutional Investor magazine.

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. John Mack, Chairman and CEO of Morgan Stanley said that "Jim’s background and experience with financial markets, management and operations has enabled him to provide exceptional leadership to MGM during an unprecedented period of turbulence in the economy and capital markets."

During Murren's tenure, MGM joined with Dubai World in the development of Las Vegas 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. Senator Harry Reid said, "The Las Vegas community may never be able to express its appreciation adequately for all that Jim has done, but his hard work hasn't gone unnoticed. ... He is a leader of his generation in job creation, green investment and philanthropy." Somer Hollingsworth, President and CEO of the Nevada Development Authority, called CityCenter "the most exciting and impactful project to open for the foreseeable future,”

During 2009, according to the Associated Press, Murren's total remuneration from MGM was $13.75 million, including $2 million in salary, a $500,000 bonus, a $3.5 million performance-based cash bonus, and $7.1 million in stock options.

Other interests

Over the years, he has been a pioneer in the area of corporate diversity. DiversityBusiness.com has ranked MGM one of the “Top 50 Companies for Promoting Multicultural Business Opportunities” for the last 5 years, 2006-2010. He was an original founder of the state of Nevada's cancer research and treatment center, the Nevada Cancer Institute, and is a member of its Board of Directors. He is a trustee of the University of Nevada, Las Vegas and an active supporter of Trinity College, The Johns Hopkins University, the Smith Center for the Performing Arts, and other non-profit organizations.

He and his wife Heather have been married for 20 years.

External links

• Education on the mind of MGM Resorts chief Jim Murren - Las Vegas Sun, January 18, 2011
• Interview with Jim Murren, President and COO of MGM Mirage - LV Business Press, October 5, 2007