Penn Entertainment nominates new board directors
The company is considering Johnny Hartnett and Carlos Ruisanchez for these roles.
Key Points
- Two current board members will not seek reelection
- Ron Naples recently announced his retirement
Penn Entertainment recent announced two nominations for its Board of Directors. Johnny Hartnett and Carlos Ruisanchez are up for consideration for the board, following a recent discussion with HG Vora Capital Management.
Several board members will not be returning moving forward. Ron Naples told the board that he will be retiring. Barbara Shattuck Kohn and Saul Reibstein recently informed the board they will not be seeking reelection.
Penn Entertainment took a moment to express its appreciation to HG Vora for its feedback.
The company said in a statement, “While we were unable to reach an agreement with HG Vora, we thank them for their input and look forward to continued engagement with all of our shareholders.
“We thank Ron, Saul and Barbara for their many years of distinguished service to the Board and our Company and we are eager to begin working with our new directors to drive profitable growth for the benefit of all Penn shareholders.”
The company also said it appreciates the skills and experience its nominees have to offer.
Penn Entertainment said in closing, “We look forward to benefitting from Johnny’s and Carlos’s fresh perspectives as we enter into a critical phase for the business. The Board continues to believe there is significant opportunity for value creation at Penn, particularly within our Interactive segment.
“Johnny and Carlos bring critical expertise and experience in the gaming industry, across both digital and retail, that are aligned with the Board’s priorities and are tailored to the opportunities in front of us.”
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