Frissora becomes CEO of Caesars

Caesars Entertainment Corp announced that Mark Frissora has taken the role of president and CEO, effective July 1.

Frissora, who also joined the board in February, now becomes president and CEO of Caesars Enterprise Services  and joins the CES Steering Committee.

Gary Loveman, former President and CEO of Caesars Entertainment, will continue to serve as chairman of the board and will oversee the restructuring of Caesars Entertainment Operating Company.

“Since joining the company in February, I have visited most of our domestic properties, met with all of the company’s senior leaders and focused my attention on identifying new opportunities to drive growth and efficiency, which will ultimately create shareholder value,” Frissora said.

Frissora spent the last 14 years as Chairman and CEO of  Hertz Global Holdings and Tenneco Inc.

In March, a U.S. bankruptcy judge ordered an independent examiner to investigate transactions by the operating unit of Caesars Entertainment Corp after the company filed for Chapter 11 bankruptcy this year, and is alleged to have illegally moved assets to avoid them being claimed by creditors.