The leading provider of integrated entertainment, casino gaming experiences and sports content, PENN Entertainment, confirmed upcoming changes to its Board of Directors.
Two experts to be nominated for election to the company's Board
The company has announced that Ron Naples will be retiring from his position on the Board of Directors, effective immediately.
On the other hand, PENN Entertainment revealed that Saul Reibstein and Barbara Shattuck Kohn have both confirmed that they will not be standing for reelection during the company's 2025 Annual Meeting of Shareholders.
In light of those changes, PENN Entertainment confirmed late last week that it intends to nominate Johnny Hartnett and Carlos Ruisanchez for election to its Board of Directors.
The announcement, the company said, follows negotiations with HG Vora Capital Management.
"Following review by the Board’s Nominating and Corporate Governance Committee, and based on the nominees' relevant qualifications and experience, the Board intends to nominate Mr. Hartnett and Mr. Ruisanchez to fill the two Class II director seats available for election at the Annual Meeting," reads a statement released by PENN Entertainment.
Hartnett and Ruisanchez are experienced executives with solid experience
Each of the executives has extensive experience in the gaming and hospitality industries, among other sectors.
Hartnett held the role of Chief Executive Officer at Superbet Group between 2019 and 2023. Then, in 2024, he was appointed to the company's Board.
Under Hartnett's leadership, Superbet Group recorded significant market growth, set and achieved ambitious results.
Besides Superbet Group, Hartnett has two decades of experience with Flutter Group.
At that time, he held a range of senior-level roles, including MD of Paddy Power Betfair Online and COO of Sportsbet in Australia, among others.
Ruisanchez, who is the second potential election nominee to PENN Entertainment's Board of Directors, also has solid experience in overseeing and growing businesses.
For a decade, between 2008 and 2018, he was part of Pinnacle Entertainment, Inc, a leading gaming and entertainment company.
Ruisanchez was initially appointed to the role of Executive Vice President, Strategic Planning and Development, while in 2011, he assumed the role of Chief Financial Officer.
Climbing through the ranks, Ruisanchez later became the President and Chief Financial Officer, holding the role until Pinnacle's sale in 2018.
PENN Entertainment's Board of Directors acknowledged in a statement that they are looking forward to Hartnett and Ruisanchez's "fresh perspective" as the business is entering a new phase of its growth.
"The Board continues to believe there is a significant opportunity for value creation at PENN, particularly within our Interactive segment. Johnny and Carlos bring critical expertise and experience in the gaming industry, across both digital and retail, that are aligned with the Board’s priorities and are tailored to the opportunities in front of us," the Board of Directors wrote.
Finally, they thanked Naples, Kohn and Reibstein for their hard work and dedication.
