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The Yacht Portfolio appoints Jim Murren as executive chairman

Jim Murren previously served as chairman and CEO of MGM Resorts International for 12 years
The Yacht Portfolio appointed Jim Murren executive chairman as the company grows with The Ritz-Carlton Yacht Collection's newbuilds, Ilma and Luminara.

The two superyachts are scheduled to debut in 2024 and 2025 respectively. Ilma's keel was laid at Chantiers de l'Atlantique just last week.

Former MGM Resorts chairman

Murren, a leader and active member of the Nevada community, served as chairman and CEO of MGM Resorts International for 12 years prior to leading Nevada’s COVID-19 Response, Relief and Recovery Task Force as its gubernatorial-appointed chairman in 2020.

Current Cirque du Soleil co-chair

Currently, Murren serves as co-chairman of Cirque du Soleil Entertainment Group and is a member of the boards of Simplebet and Playstudios. He also is a member of the Board of Trustees for Howard University and Trinity College. Murren is a former member of the National Infrastructure Advisory Council and the US Travel Association, and chaired the Leadership Board of the University of Southern California’s Keck School of Medicine.

Wealth of experience

'Jim brings a wealth of experience to the role and we are pleased to welcome him to our board of directors,' said Douglas Prothero, CEO of The Yacht Portfolio. 'On a personal level I look forward to his contributions and support as we chart our path to expansion under The Yacht Portfolio.'

Murren's appointment 'reflects our shared vision for future growth and further strengthens the company’s position in the luxury cruise and travel sector,' added Karim Khairallah, managing director and co-portfolio manager, European Principal Group, Oaktree Capital Management.

For his part, Murren called it an 'exciting time as the company enters its next phase of growth,' adding he 'look[s] forward to being a part of that success.'