MGM Mirage CEO Terry Lanni announced Thursday he is retiring Nov. 30 but will remain a member of the Board of Directors.

“I have served as Chairman for more than 13 years and have seen this company grow from owning one resort in Las Vegas to 17 resorts internationally, with joint ventures around the world. I believe it is now time to step aside from full-time engagement and turn over the reins to the new generation. I am recommending to the Board of Directors that Jim Murren succeed me as chairman and CEO. Jim is fully equipped to lead the company through these turbulent times in the global economy and take it to new levels of growth and success,” Lanni said in a MGM Mirage news release.

Lanni, who is 65, joined the MGM Grand in June 1995. He has guided the MGM Mirage through periods of unprecendented growth, including the merger with the Mirage.

The release says, “The MGM MIRAGE Board of Directors will take up the issue of formally
naming Mr. Lanni's successor at an upcoming meeting.”

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