PENN Entertainment has announced plans to nominate Johnny Hartnett and Carlos Ruisanchez for election to its Board of Directors following discussions with HG Vora Capital Management. As part of the transition, Ron Naples has retired from the Board effective immediately, while Barbara Shattuck Kohn and Saul Reibstein have notified the company they will not stand for re-election at the 2025 Annual Meeting of Shareholders. PENN Entertainment’s Board now consists of eight directors, seven of whom are independent.
Following a review by the Nominating and Corporate Governance Committee, the Board confirmed its intent to nominate Hartnett and Ruisanchez to fill the two available Class II director seats. PENN Entertainment stated that the additions are aimed at supporting the company’s strategic priorities and value creation initiatives across its igaming and interactive segments. The Board also noted that avoiding a proxy contest was in the best interests of shareholders.
Johnny Hartnett most recently served as Chief Executive Officer of Superbet Group from 2019 to 2023 and currently sits on Superbet’s Board of Directors. He previously spent two decades at Flutter, holding leadership roles across Sportsbet, Paddy Power Betfair Online, and Flutter International, including responsibility for group M&A activity.
Carlos Ruisanchez is the Chief Executive Officer of Sorelle Capital and President of Sorelle Hospitality. He was previously President and Chief Financial Officer of Pinnacle Entertainment, where he served until the company’s sale in 2018. Before his tenure at Pinnacle, Ruisanchez worked at Bear Stearns in investment banking and currently serves as an independent board member of Cedar Fair Entertainment Company.
PENN Entertainment stated it looks forward to incorporating the new directors’ experience in gaming, technology, and corporate development as the company pursues growth initiatives across its portfolio, particularly within the expanding igaming market.
