Monday, Oct. 19, 2009 | 3:18 p.m.
Harrah's Entertainment Inc. of Las Vegas today said it hired former Walt Disney Co. executive Peter E. Murphy as a senior executive to help the company expand globally.
Murphy was named president-strategy and development, a newly created position.
Murphy was with Disney until 2007 in a variety of executive roles, including chief strategic officer and senior adviser to the chief executive officer.
From 1998 to 2005, he was Disney's senior executive vice president, chief strategic officer and a member of the company's executive management committee. During his tenure, Disney acquired Capital Cities/ABC, Fox Family Worldwide, 40 percent of E! Entertainment Television, the Miramax Film Corporation, Baby Einstein and The Muppets, among others. He was responsible for strategy and new business development, mergers and acquisitions, technology, brand management and long-term planning for the growth of Disney's global business, Harrah's said.
Murphy is also the founder of Wentworth Capital Management, a private investment and venture capital firm focused on media, technology and branded consumer businesses, and has served as a senior advisor to Apollo Management -- one of the companies that controls Harrah's.
"Peter is an accomplished, thoughtful and rigorous executive who will help us significantly as we continue to identify areas for future growth and to explore opportunities created by current economic conditions," Gary Loveman, Harrah's Entertainment's chairman, president and chief executive officer, said in a statement.
"In this newly created position, Peter will help us envision and execute our plans for the future growth and development of the company," Loveman said. "His work will include new domestic and international development, mergers and acquisitions and expansion of our third-party relationships with the entertainment, retail, airline, hospitality and other industries."