Yesterday MGM Mirage's CEO of 13 years, Terrence Lanni came under fire after a Wall Street Journal investigation discovered that he never earned an MBA from the University of Southern California and abruptly "retired." Oops.
This is not what you want to find out about the man who is steering the world's largest casino-gaming company through a particularly rough patch in history. Especially as the hotel is on the brink of opening the extravagant MGM CityCenter. According to USC, he completed some classes toward the MBA
According to USC, he completed some classes toward the MBA between 1965 and 1967 but never graduated. Lanni said he received an Honorary MBA in 1992, while USC says they have not awarded an honorary MBAs since 1933. Not only that, but Lanni's biographies prior to 1992 have all mentioned him holding an MBA.
The official word from MGM Mirage is that Lanni is retiring so he can be closer to his family who lives in California. There's also a thinly veiled reference to Lanni wanting to enjoy time with his family while he still can. The man is only 65 and has no illnesses to speak of. Anyways, questions about his MBA had "no bearing whatsoever" on his retirement. Riiiiight...
To help smooth the transition for the company, since it has some major issues to overcome like the economic downturn and completion of City Center, MGM is going to appoint Jim Murren, its current Chief Operating Officer effective November 30th.