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| Harrah execs leave gambling for the Grand Ole Opry |
25/04/2001 Gaylord Entertainment hires ex-Harrah's CFO, and Chairman and CEO. This week, Colin Reed, former Chief Financial Officer, and Michael D. Rose, former chairman and CEO of Harrah?s Entertainment left the gambling industry to join Gaylord Entertainment as president and chief executive officer, and as chairman respectively. Treasurer Charles Atwood will replace Reed. Harrah?s also announced that Gary Loveman was named president of the company. He will continue to perform the functions from his previous role as chief operating officer. A spokesman at Gaylord Entertainment Co., the owner of country music mecca, the Grand Ole Opry, emphasized that the team were not hired to move Gaylord into gambling. Said spokesman Tom Adkinson, ?Our board has said that we are not interested in the gaming industry. Mike Rose and Colin Reed's experience that is so attractive is in the hospitality and entertainment industries. Obviously, the hospitality industry is the biggest part of our operation now, complemented by very established operations such as the Grand Ole Opry. This affirms what the core of the company is.? Gaylord has been selling off assets for the past year, blaming an unsuccessful investment into Internet properties. However, Reed expressed his optimism about Gaylord?s future. "The planned growth of the Opryland Hotels into Florida and Texas, along with the established music, media and entertainment businesses, provides a platform for growth and the creation of shareholder value in the future," he said. |
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