Published on : Monday, March 23, 2020
Paul Salem has been appointed as the Chairman of the Board of Directors at MGM Resorts International in Las Vegas. He is currently a member of the MGM Resorts Board of Directors and will be replacing Jim Murren, the current chairman of the company.
Paul J. Salem is also the senior managing director emeritus at the world-leading private equity, Providence Equity that specializes in the media and communication industry. He comes with 27 long years of experience as the managing director of Providence‘s investment team. He also served as a member of the investment committee and management committee and contributed to the growth of Providence Equity from $171million in assets to over $150 billion during his years of service. Salem also has in his credits the establishment of Providence Equity’s London office in 1999. In addition, he supported the commencement of the firm’s credit affiliate Benefit Street Partners in 2008.
Salem completed his Masters of Business Administration from Harvard Business School and holds a Bachelor’s degree in Arts from Brown University. In addition to the above responsibilities, he also serves as the Chairman of the Board at Year Up, a non-profit focusing on closing the opportunity divide for urban young adults. He is also the board member of Edesia Global Nutrition, a social enterprise treating acute malnutrition across the world.
Salem was also the leader of the purchase of Merganser, a Providence affiliate in 2014 and started Providence Public, a long/short hedge fund in 2017. He also comes with the experience of serving as a director on many Providence Equity portfolio companies such as Asurion, Madison River Telecom, Verio, PanAmSat, Tele1 Europe among other Providence investments. Salem also worked for Morgan Stanley in corporate finance and mergers and acquisition. He also served the Prudential Investment Corporation with the responsibility of private placement financing and leveraging buyout transactions.
With his vast range of experience and expertise in his area of work, he will surely contribute to taking the MGM Resorts International group to bigger and better heights.