Penn Entertainment has announced two nominees for the board of directors following discussions with HG Vora Capital Management.
Johnny Hartnett and Carlos Ruisanchez will be nominated at the 2025 annual meeting of shareholders.
Ron Naples is to retire from the board, effective immediately. Barbara Shattuck Kohn and Saul Reibstein have notified the company that they will not stand for re-election.
“We look forward to benefitting from Johnny’s and Carlos’s fresh perspectives as we enter into a critical phase for the business,” read a company statement. “The board continues to believe there is 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. While we were unable to reach an agreement with HG Vora, we thank them for their input and look forward to continued engagement with all of our shareholders.
“We thank Ron, Saul and Barbara for their many years of distinguished service to the Board and our Company and we are eager to begin working with our new directors to drive profitable growth for the benefit of all PENN shareholders.”
The board now comprises eight directors, seven of whom are independent.
