Terry Lanni, MGM Mirage's chairman and CEO, is planning to retire at the end of the month.
Jim Murren, COO, is being recommended for the job.
Whoa... Didn't see this coming. End of the month? That's not much time for a transition. Is he sick? Hopefully not [ED: a memo to employees says it is not health related].
I can't imagine majority shareholder Kerkorian would toss him during such a tumultuous time. They've worked together for ages... It must be something else... The timing is just so strange.
Update: MGM Mirage press release here:
We're discussing this on the Vegas Gang, which will be out later today.
UPDATE: The Wall Street Journal is reporting there are some questions about his MBA from USC as the school could not verify the degree.