Caesars Appoints Kim Harris Jones to Board of Directors

Posted on: April 29, 2024, 04:02h. 

Last updated on: April 29, 2024, 04:02h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Caesars Entertainment (NASDAQ: CZR) today announced the appointment of Kim Harris Jones to its board of directors.

Kim Harris Jones
Kim Harris Jones featured on LinkedIn. She’s joining the board of Caesars Entertainment. (Image: LinkedIn)

Harris Jones, who has extensive experience as a high-ranking executive in both the consumer discretionary and consumer staples sectors, will be the tenth member of Caesars’ board and the third woman among the directors slate. Caesars will be the fourth board on which the University of Michigan alumnae serves.

With her extensive experience in finance and a reputation as a thoughtful and engaged leader inside some of the largest consumer-packaged goods and automotive companies, Kim’s addition will give us another lens through which to see stronger, more dynamic future possibilities for Caesars Entertainment,” said Caesars Executive Chairman Gary Carano in a statement.

Caesars has operated with nine directors since July 2022 when Sandra Douglass Morgan departed to become president of the Las Vegas Raiders.

Harris Jones Could Be Smart Pick for Caesars Board

Harris Jones, who was recently named to the list of “100 Most Influential Black Corporate Directors” by BoardProspects Magazine, could be a pivotal addition to Caesars’ board for a variety of reasons.

Shares of the casino operator trade on the Nasdaq. Several years ago, that bourse implemented rules mandating that member firms have at least one director that is female, an ethnic or racial minority, or identifies as LGBTQ+. That rule was approved in August 2021 by Nasdaq and the Securities and Exchange Commission (SEC) and aims to prompt companies to have at least two diverse board members by 2026.

That rule was challenged last year, but the 5th U.S. Circuit Court of Appeals ruled in favor of Nasdaq, saying the board mandate wasn’t discriminatory nor was it a violation of the First Amendment.

Harris Jones is Black and while some naysayers might say that’s the reason she was added to the Caesars board, the reality is here resume speaks for itself. That includes 23 years in the automotive industry — six at General Motors and 17 at Chrysler — as well as another six years at consumer staples giant Mondelez International where she served as senior vice president and corporate controller.

Harris Jones Has Extensive Board Experience

As noted above, Caesars is the fourth board of directors of which Harris will be a member. She currently serves as the audit committee chair at both TrueBlue Inc. and United Rentals. She’s also a director at consumer apparel firm Fossil Group.

A resident of Las Vegas, Harris Jones has long served on those boards, including an eight-year stint TrueBlue and a nearly six-year run with United Rentals, according to her LinkedIn profile.

“Kim shares our vision for strategic, collaborative innovation. She has outstanding experience navigating complex issues and implementing transformation for optimization,” said Caesars CEO Tom Reeg in the press release. “I look forward to working with her, the rest of our board, and the management team to continue to drive results for our guests, our Team Members, and our shareholders.”