MGM China Holdings is losing two of its top executives, with announcements of their departures appearing back to back on subsequent days. The company’s chief financial officer (CFO) announced his departure last Thursday and, a day letter, non-executive director William Scott was out. These changes come following several other high-level movements at MGM China’s parent company, MGM Resorts, but don’t appear to be indicative of any internal issues taking place within the gaming giant.
Scott, in addition to being a non-executive director, also served on the company’s nomination and corporate governance committee, a position he held since March 2011. He was also the GM at Diaoyutai MGM Hospitality, Ltd., a company formed between MGM Resorts and Diaoyutai State Guesthouse, mainland China’s hospitality department.
No specific reason was given for Scott’s departure, but the company indicated that it was amicable. Per filing regulations, since he was an authorized representative of the company, his departure was required to be reported to the Hong Kong Stock Exchange, where MGM China is listed.
Last Thursday, MGM China announced that Dan D’Arrigo, the company’s CFO, was leaving. He has also resigned from the company’s board of directors, but will stay with the group for a month in order to allow for a smooth transition of responsibilities.