John Taylor Out As Chairman of the Board of Twin River

John Taylor Out As Chairman of the Board of Twin River

Twin River Worldwide Holdings, Inc. on Monday announced that John E. Taylor, Jr. is stepping down as Executive Chair and a member of the Board of Directors and the appointment of Soohyung Kim as Board Chair.

Kim replaces Rhode Island native and long-time leader of Twin River John Taylor. Taylor grew up in Pawtucket and started his career as a junior staffer in the 1980s working for then-Governor Ed DiPrete.

Presently, the company is in the midst of a number of controversies including a state investigation by the RI Attorney General, a review by the National Labor Relations Board and a battle over the state's lottery contract.

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Kim is a Founding Partner of Standard General L.P., a significant shareholder in Twin River, and is the firm's Managing Partner and Chief Investment Officer. He has been an independent director of the Company since 2016, where he leads the Compensation and Nominating and Governance committees. “He has been closely involved with all aspects of Board governance and strategy, and as Chair will bring foundational knowledge of the company along with a thorough understanding of the markets in which Twin River operates to make strong financial judgments and generate long-term shareholder value,” said the company.

"The Company has become a major force in the gaming space and is on a powerful financial trajectory. I am proud of what we've accomplished and have nothing but good wishes for the Company's continued success in the future. I took this step reluctantly, but feel the time is right for me to take on other opportunities where I can help create similar value," Taylor said in a statement.

"The Board and entire Company thank John for his dedicated and effective service as Board Chair, from his guidance and leadership out of bankruptcy through a significant period of growth into a market leader and finally to the public listing of the Company's stock on the New York Stock Exchange earlier this year. His expertise, insight and steady guidance have been invaluable to the business," said Kim.

This story was first published 12/9/19 5:25 PM