Penn Enterprises implements modifications to its Board of Directors
Breaking: Fresh Blood for PENN Entertainment's Board
Get ready for some fresh perspectives at PENN Entertainment, your go-to provider of integrated entertainment, casino gaming experiences, and sports content. This powerhouse company announced that it's shaking things up by bringing in two new heavyweights to its Board of Directors.
Say Goodbye to a few, Hello to Johnny and Carlos
PENN Entertainment has seen some changes. Ron Naples, a valued member of their Board, has decided to retire, effective immediately. Saul Reibstein and Barbara Shattuck Kohn, on the other hand, have chosen not to stand for reelection at the company's 2025 Annual Meeting of Shareholders.
To fill the void, PENN Entertainment plans to nominate Johnny Hartnett and Carlos Ruisanchez for election. The twist? This decision came after negotiations with HG Vora Capital Management.
Who are Johnny and Carlos?
Johnny Hartnett, a seasoned executive with over two decades of experience, has made a name for himself in the gaming and hospitality industries. He served as the CEO of Superbet Group (2019–2023), driving market expansion and tech development. His impressive journey also includes holding senior roles at Flutter Group, such as Managing Director of Paddy Power Betfair and COO of Sportsbet Australia. Hartnett is recognized for his focus on interactive growth, which aligns perfectly with PENN's priorities.
Carlos Ruisanchez, the second potential nominee, also brings a wealth of experience in overseeing and growing businesses. He spent ten years at Pinnacle Entertainment—including stints as Executive Vice President of Strategic Planning and Development, CFO, and President—and held the role of President and CFO until the company’s sale in 2018. Moreover, Ruisanchez is the current CEO of Sorelle Capital/President of Sorelle Hospitality, focusing on hospitality and real estate investments. He also boasts governance experience from serving as an independent director at Cedar Fair Entertainment Company.
PENN Entertainment's Board of Directors is eagerly anticipating the "fresh perspective" that Johnny and Carlos will bring as the company travels a new road in its growth. They believe these two experts will help unlock significant value, particularly in the Interactive segment.
Lastly, the Board thanked Naples, Kohn, and Reibstein for their hard work and dedication.
Source: Pixabay.com
Enrichment Data:
- Johnny Hartnett - Brings extensive digital gaming leadership, being the CEO of Superbet Group, overseeing market expansion and proprietary tech development. Also has experience with Flutter Group, recognized for driving online sports betting and iGaming innovation.
- Carlos Ruisanchez - Has experience at Pinnacle Entertainment, serving as President and CFO until its sale. Currently CEO of Sorelle Capital/President of Sorelle Hospitality, focusing on hospitality and real estate investments. Also boasts governance experience from serving as an independent director at Cedar Fair Entertainment Company.
- Ron Naples, a strategic member of PENN Entertainment's Board, has retired effective immediately, following Saul Reibstein and Barbara Shattuck Kohn's decision to not stand for reelection in the 2025 Annual Meeting of Shareholders.
- PENN Entertainment plans to nominate Johnny Hartnett and Carlos Ruisanchez for election, having come to a decision after negotiations with HG Vora Capital Management.
- Johnny Hartnett, a seasoned executive with over two decades of experience in the gaming and hospitality industries, is recognized for his focus on interactive growth and contribution to market expansion and tech development.
- Carlos Ruisanchez, another nominee, brings experience in overseeing and growing businesses, having previously served in various executive roles at Pinnacle Entertainment and currently leading Sorelle Capital/President of Sorelle Hospitality in hospitality and real estate investments.
