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November 27, 2009

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Brief: New management structure created

Tuesday, Dec. 15, 1998 | 12:18 p.m.

"In many organizations. the office of the president is defined as a single individual," Satre said. "Given all of the momentum and opportunities our company now enjoys, we felt the company would be better served with three individuals, each possessing strong and varied talents and expertise sharing this office.

"I have extensive operations experience and a long history with the company, Colin has tremendous financial and development expertise and a keen eye for acquisitions and management of our corporate capital structure, and Gary brings unmatched leadership and imagination in marketing and service excellence." he said.

Their new positions won't change the other responsibilities for Reed, Loveman or Satre, the company said.

The directors also renewed Satre's contract as chairman and chief executive for another four-year term and elected Reed to the board. Kell Houssels, who joined Harrah's board when the company acquired Showboat Inc., will remain a director but step down as a divisional president and assume a consulting role.

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