Trump Entertainment Resorts Inc., owner of three Atlantic City casinos, is sweeping the executive suite clean as it transitions to new ownership after emerging from Chapter 11 bankruptcy protection.
Seven senior executives are being bought out as part of a “change of control” provision in their contracts, which went into place when the new ownership took over. Corporate bondholders led by billionaire hedge fund manager Marc Lasry recently acquired the company for $225 million.
Heading for the exit is Rosalind Krause, general manager of Trump Taj Mahal Casino Resort, who started her casino career as a cocktail server and dealer before ascending the ranks to upper management. Krause is the only woman currently in charge of an Atlantic City casino. Trump Plaza GM Jim Rigot announced in August that he will resign in October.
The other departing execs are Joseph A. Fusco, executive vice president of government affairs; John P. Burke, chief financial officer; Craig D. Keyser, executive vice president of human resources; Richard M. Santoro, executive vice president of asset protection and risk management; and Ravneet Bhandari, senior vice president of revenue management.
Mark Juliano, Trump Entertainment CEO, will now take on extra duties as head of the Taj Mahal. Mark Sachais, general manager of Trump Marina, will oversee Trump Plaza as Rigot’s replacement.
