Penn Entertainment announces board changes with new nominees
Company confirms two new nominations to its Board of Directors.
Key points:
– Penn Entertainment has announced the nomination of Johnny Hartnett and Carlos Ruisanchez to its Board of Directors, following discussions with HG Vora Capital Management
– Three current board members will retire, creating vacancies for the new nominees
Penn Entertainment has announced updates regarding its Board of Directors.
Following discussions with HG Vora Capital Management, LLC, Penn intends to nominate Johnny Hartnett and Carlos Ruisanchez for election to the Board at the upcoming Annual Meeting of Shareholders.
Ron Naples has informed the Board of his immediate retirement. Barbara Shattuck Kohn and Saul Reibstein have both decided not to stand for reelection at the 2025 Annual Meeting. The Board will now have eight members, with seven independent directors.
The Board’s Nominating and Corporate Governance Committee reviewed the qualifications of both Hartnett and Ruisanchez. Their experience in the gaming sector, particularly in digital and retail operations, aligns with the company’s priorities, particularly in the Interactive segment.
The Penn Entertainment Board stated: “We look forward to benefiting from Johnny’s and Carlos’s fresh perspectives as we enter into a critical phase for the business.
Good to know: Penn Entertainment operates in 28 jurisdictions, with a portfolio that includes casinos, racetracks and online sports betting offerings
“Johnny and Carlos bring critical expertise and experience in the gaming industry, across both digital and retail, that are aligned with the Board’s priorities and are tailored to the opportunities in front of us.
“We thank Ron, Saul and Barbara for their many years of distinguished service to the Board and our Company and we are eager to begin working with our new directors to drive profitable growth for the benefit of all Penn shareholders.”
This follows Billy Turchin joining Penn Interactive as Chief Product Officer, as well as previous discussions about board changes at Penn Entertainment amid shareholder concerns.
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