LVS: STONE RESIGNED BUT IS HE GONE?

03/25/09 07:57AM EDT
Not surprisingly, LVS announced that EVP Brad Stone recently resigned from the company. Interestingly, the effective date and the terms and conditions of Stone’s resignation have not yet been determined. So is he really gone forever?

Brad Stone was a respected member of the LVS executive management team that has had a well known falling out with Chairman Sheldon Adelson. There has been a lot of speculation recently that Mr. Stone was on his way out due to the Adelson relationship and also personal reasons. The release did indicate that Stone was leaving for “personal reasons” which is at least partly true. Mr. Stone has been going through a divorce.

I’m not sure the Brad Stone and LVS marriage is over, however. I think Mr. Adelson might be interested in retaining Mr. Stone and negotiations could be going on currently. While the departure announcement should not be a surprise, any reconciliation would be, and should be considered a positive. Stay tuned.
© 2020 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.