Boyd Gaming Corporation has announced that Keith E. Smith, 47, has been named as its Chief
Executive Officer, effective January 1, 2008. Smith will succeed William S.
Boyd, 75, who will assume the newly created position of Executive Chairman.
As Executive Chairman, Bill Boyd will remain actively involved with the
strategic direction and vision of the Company, while providing more time
for him to focus on customer and employee relations. In addition to
chairing the Company’s Board of Directors, he will also remain as a member
of the Company’s Management Committee.
Boyd Gaming Chief Financial Officer Paul J. Chakmak will succeed Smith
as Chief Operating Officer, also effective January 1, 2008. The Company
intends to begin a search for Chakmak’s successor in the near future.
Commenting on Keith Smith’s appointment as Chief Executive Officer,
Bill Boyd said, “Keith has been a key player in the growth and success of
our Company over the last 17 years. His talent as a senior executive, his
vision and leadership skills, and his 25 years of experience in our
business, give me every confidence that he is the right person to take Boyd
Gaming to the next level. Most importantly, Keith understands and supports
the culture that has come to define and differentiate our Company over the
last 30 years. We are at the beginning of a transformational new chapter in
our Company’s history, making this an ideal time for a new person to assume
the Chief Executive role.”
Commenting on Paul Chakmak’s appointment, Boyd added, “Since joining
our Company in 2004, Paul has quickly established himself as a valuable
member of our senior management team. His familiarity with our Company and
industry make him the ideal candidate to succeed Keith in the Chief
Operating Officer role. I look forward to working closely with the both of
them in the years to come.”
Smith was named President of Boyd Gaming in 2005 and has been Chief
Operating Officer since 2001. He joined the Company as Corporate Controller
in 1990, and was promoted to Senior Vice President, and subsequently
Executive Vice President of Operations in 1998. Smith has more than 25
years of experience in the industry, including various executive positions
with Aztar Corporation.
Chakmak, 42, joined Boyd Gaming in 2004 as Senior Vice President
Finance and Treasurer. He was promoted to Executive Vice President and
Chief Financial Officer in June 2006. Previously, he was a senior member of
CIBC World Markets’ West Coast Leveraged Finance Group, where he led the
firm’s debt origination and structuring group for various sectors,
including the gaming, lodging and leisure industries. Chakmak has more than
18 years of banking experience.
Discussing his new role, Boyd added, “Our close bond with our employees
and our guests has always been an important element to our culture and our
success, and in my new position, I will now have more time to interact with