MGM Mirage’s chairman and chief executive, J. Terrence Lanni, 65, will retire this month, the company announced on Thursday.
Bloomberg reports that the announcement of Mr. Lanni’s retirement has spurred inquiries as to whether he actually received a Master's of business administration from the University of Southern California. According to the news agency, Mr. Lanni said his degree is an honorary M.B.A.
Mr. Lanni named James J. Murren, MGM’s president and chief operating officer, as his predecessor in a prepared statement.
“I believe it is now time to step aside from full-time engagement and turn over the reins to the new generation,” Mr. Lanni said in the statement. “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.”