MGM Resorts International has announced that Chief Operating Officer and President Bill Hornbuckle, has been named acting Chief Executive Officer (CEO) and President, replacing outgoing Chairman and CEO Jim Murren.

Replacing Murren as the Chair of the Board of Directors will be Paul Salem, who currently is a member of the MGM Resorts Board of Directors and Chair of the real estate committee of MGM Resorts, which is in the process of executing the asset light strategy.

"The nation is facing an unprecedented crisis, causing the travel and hospitality industry to grind to a near halt. It is clear that once the threat to the public health has subsided and we are ready to reopen our resorts and casinos, it will take an incredible effort to ramp back up," said Paul Salem, Chairman of the MGM Resorts Board of Directors. "We believe continued steady, skilled leadership is needed in this time of great upheaval and uncertainty. Bill is one of the most experienced operators in the business and we have confidence in his ability to bring this company back online. Jim Murren is an outstanding leader who transformed MGM Resorts during his 22 years. Since Jim announced his stepping down from MGM Resorts, we felt that now more than ever, continuity of leadership was of vital importance."