Industry Update
Appointment23 March 2020

Paul J. Salem

Appointed Chair of the Board of Directors
At MGM Resorts International in Las Vegas - NV, USA

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Paul J. Salem

Paul Salem will be replacing Murren as the Chair of the Board of Directors, 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.

Paul Salem is a senior managing director emeritus at Providence Equity Partners, a world leading private equity firm specializing in the media and communication industries. He served for 27 years as a senior managing director on Providence's investment team and served as a member of the investment committee and management committees helping grow Providence Equity from $171 million in assets to over $50 billion in his years of service. In 1999, Mr. Salem established the London office for Providence Equity and in 2008 helped start Providence's credit affiliate Benefit Street Partners. In 2014, Mr. Salem lead the purchase of Merganser, a Providence affiliate and in 2017, helped start Providence Public, a long/short hedge fund.

Mr. Salem previously served as a director on many of Providence Equity portfolio companies, including Asurion, Eircom, Grupo TorreSur, Madison River Telecom, MetroNet (formerly AT&T Canada), PanAmSat, Tele1 Europe, Verio, Wired Magazine and several other Providence investments.

Prior to joining Providence in 1992, Mr. Salem worked for Morgan Stanley in corporate finance and mergers and acquisitions. Prior to Morgan Stanley, he spent four years with Prudential Investment Corporation, an affiliate of Prudential Insurance, where his responsibilities included private placement financings, leveraged buyout transactions and helping establish Prudential's European office.

Mr. Salem received a Master of Business Administration from Harvard Business School and a Bachelor of Arts from Brown University. Mr. Salem is Chairman of the Board at Year Up, a non-profit focusing on closing the opportunity divide for urban young adults and a board member of Edesia Global Nutrition, a social enterprise that treats acute malnutrition around the globe. Mr. Salem is Clerk (Chair) of the Board of the Moses Brown School and is on the advisory board of the Carney Brain Institute at Brown University.

MGM Resorts International

MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings.
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Recent Appointments at MGM Resorts International

Melonie Johnson - President and Chief Operating Officer (COO)

20 August 2020 — Borgata Hotel Casino & Spa, and MGM Resorts Luxury Destination, has announced the appointment of Melonie Johnson as President and Chief Operating Officer (COO). Having entered into the role during Atlantic City's COVID-19-mandated shutdown, Johnson worked closely with local officials to safely reopen the property in July.
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Bill Hornbuckle - Chief Executive Officer

30 July 2020 — The MGM Resorts International (NYSE: MGM) Board of Directors today announced that William (Bill) J. Hornbuckle has been elected as Chief Executive Officer and President, effective immediately. Hornbuckle has been serving the company as Acting CEO and President since March 2020.
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Bill Hornbuckle - Acting Chief Executive Officer

23 March 2020 — MGM Resorts International ("the Company") or ("MGM Resorts") (NYSE: MGM) today 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.
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