Caesars CEO lacks casino experience, stormy exit from Hertz
By J.D. Morris, Las Vegas Sun
Caesars Entertainment’s next chief executive left his last job after revelations of accounting problems at his company and calls for his resignation from some investors.
Mark Frissora, the Caesars CEO-designate who formerly headed the rental car company Hertz, now wades into another financially fraught corporate environment. The largest operating division of Caesars is trying to eliminate nearly $10 billion of debt through a complicated — and controversial — bankruptcy restructuring.
Nonetheless, Caesars executives and casino analysts seem relatively confident that Frissora can successfully take the reins from outgoing CEO Gary Loveman.
For one thing, Loveman is staying on as Caesars chairman, and the company said he would continue to oversee the restructuring process. Also, Frissora’s previous management experience, though outside the casino industry, isn’t as unrelated to his new post as it may initially appear.
People should click on the link and read the full Las Vegas Sun version of this story. And THEN, read those comments! They say it all!
I’ve worked for Frissora. He’ll suck the company dry, kill morale, and whatever “growth” numbers he shows will be very short lived.
Fasten your seatbelts..Harrahs/Harveys is going after Motel 6’s customers!
Number one axiom in MBA school: you don’t need to know anything about a business to run it.
This has led to nothing but disaster in our corporate structure and our government.
One can see examples of it everywhere. Caesars is just one of the stories in the naked city.
Dumbfounded +1. Maybe they should offshore his position to China.