Penn Entertainment has announced significant changes to its Board of Directors, following discussions with HG Vora Capital Management, LLC, and ongoing efforts to strengthen its leadership as it expands its digital and retail gaming operations.
New board nominations announced
Penn Entertainment revealed that Johnny Hartnett and Carlos Ruisanchez will be nominated for election to the Board at the upcoming 2025 Annual Meeting of Shareholders. Both candidates bring extensive experience in the gaming sector, with particular focus on digital and retail operations — areas that align with Penn’s strategic priorities, especially within its Interactive segment.
Nominating and Corporate Governance Committee has reviewed the qualifications of Hartnett and Ruisanchez. Following the review, the Board confirmed their nomination, citing their relevant expertise as valuable assets during a critical phase of Penn’s growth strategy.
Leadership changes and departures
As part of the Board updates, Ron Naples has informed the company of his immediate retirement. Additionally, Barbara Shattuck Kohn and Saul Reibstein have decided not to stand for reelection at the 2025 Annual Meeting.
Following these changes, Penn’s Board will consist of eight members, seven of whom are independent directors. This move supports Penn’s commitment to strong corporate governance practices and independent oversight.
In an official statement, the Penn Entertainment Board said, “We look forward to benefitting from Johnny’s and Carlos’s fresh perspectives as we enter into a critical phase for the business. 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.”
Strategic focus on interactive growth
The Board changes follow Penn’s recent appointment of Billy Turchin as Chief Product Officer at Penn Interactive, highlighting the company’s continued focus on its digital operations. These leadership adjustments come amid shareholder discussions and a broader strategy to boost profitability and market positioning, particularly in online gaming and sports betting.
Penn Entertainment is sharpening its focus on driving growth through innovation in the Interactive division, capitalising on market opportunities across digital and retail platforms.
