MGM Mirage, the casino firm majority-owned by billionaire Kirk Kerkorian, said Chairman and Chief Executive Terry Lanni would retire this month as questions about his resume surfaced.
Lanni, 65, recommended that the board pick President and Chief Operating Officer Jim Murren, 47, to succeed him, the Las Vegas company said Thursday.
"It's time for a younger generation to take over," Lanni said in a telephone interview. He also cited a desire to spend more time with his family.
When asked if he graduated with a master of business administration degree from USC, as his company biography states, Lanni said he had an honorary MBA from the school. USC spokesman James Grant said Lanni had taken MBA courses but didn't earn a degree. Grant said he couldn't verify that the school gave him an honorary degree.