MGM China CEO Grant Bowie has resigned from the position and will remain with the company until May 31, 2020.
The company reported that Bowie preferred not to extend his contract and personally opted for retirement plans.
However, the CEO will remain as an advisor to MGM until December 31, 2022.
‘Mr. Bowie has confirmed that he does not disagree with the Board and that there are no other matters related to his retirement as Chief Executive Officer of the Company that should be brought to the attention of the Company’s shareholders,” the company said in a statement.
The document also indicated that:
‘Mr. Bowie expressed his gratitude to the Board, particularly Mr. Bill Hornbuckle and Mrs. Pansy Ho, the Company and MGM Resorts for this opportunity and their support over the years.’
In the first quarter of the year, the company’s net revenue fell 63% year-on-year to $ 272 million (MOP2.1 billion), according to the latest financial report from MGM China.