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MGM Board Member Moves On. 2005-06-12
Quite Recently, MGM Mirage board member Alex Yemenidjian left his place at MGM. The split was not on unpleasant terms, but Yemenidjian is not saying whether or not he is joining them on other future projects. The big fear is now that he is gone he will venture on to competitive sites for gamming.
MGM Mirage President and Chief Financial Officer Jim Murren, welcomes any competition that will come his way, but is sorry to lose a friend. Executives are unclear where Yemenidjian stands, but they are sure it is against them with someone else.
Murren went on to say that he admired this man, after being promoted to his current position after Yemenidjian left it. In 1999, Yemenidjian was supposed to run Metro- Goldwyn-Mayer Inc. Murren thanks him for the job, after he was lured from Wall Street to MGM Grand in 1998.
Yemenidjian went on to help forward MGM Grand as a public company through Kirk Kerkorian. He went to executively help Kerkorian's movie studio until it was sold to Sony Corp. of America. It was then they realized he had become a free agent.
Murren went on to praise him as a man of passion, not a likely candidate for a passive leader role. Yemenidjian resigned Wednesday to pursue other endeavors, but what those are yet is unclear. What officials fear is that it endeavors against the company.
No hard feelings are so much left, Murren adds, after all Yemenidjian took a company and made it great, a true American story. What is next is the Vegas gamming district. They are just looking to snatch up a man of this caliber, even if he isn�t looking for it himself. The challenge will be good for both men, tough and sweet for rising stars in the gamming game.
(By Sammy)