Caesars Entertainment CEO Mark Frissora leaving company

Chinese New Year 2018: Caesars Palace Eye Painting Ceremony-- Caesars Entertainment President & CEO Mark Frissora (Photo credit: Patrick Gray/Kabik Photo Group)

Caesars Entertainment Corporation has announced that President and Chief Executive Officer Mark P. Frissora is leaving the company and will remain in his current role until February 8, 2019.

The four members of the Compensation and Management Development Committee as well as the Chairman of the Board will work with a nationally recognized search firm to identify Frissora's successor.

"The Board of Directors thanks Mark for his instrumental role in leading the Company through a challenging period and setting Caesars on a course for sustained, long-term growth and value creation," said Jim Hunt, Chairman of the Board of Directors. "Under Mark's leadership, the Company has significantly improved margins and profitability while simultaneously increasing customer and employee satisfaction. We are grateful for his leadership and numerous contributions and are optimistic for the future."

Frissora also released a statement that read in part, "I have been privileged to lead this iconic company and am proud of all that our team has accomplished."

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