Posted on: July 1, 2024, 05:10h.
Last updated on: July 1, 2024, 05:10h.
Caesars Entertainment (NASDAQ: CZR) today announced the appointment Rodney Williams to its board of directors — a move that could assist the casino operator’s efforts to better cater to high-end customers.
Williams recently resigned as president of Diageo Beer and Diageo Canada where he oversaw campaigns that renewed momentum for Guinness beer in the US and Canada. Last year, Guinness was the fastest-growing on-premise brand in the US.
His leadership also delivered unprecedented growth on Don Julio Tequila and Johnnie Walker Scotch in Canada, as well as a powerful national partnership with Bailey’s liqueur and the iconic Tim Horton’s chain,” according to a statement issued by Caesars.
Williams, a graduate of the Kellogg School, Northwestern University, is the second addition to the Caesars board of directors over the past several months. In April, the gaming company announced the appointment of Kim Harris Jones to the board. Prior to that, the casino giant operated with nine directors since July 2022 when Sandra Douglass Morgan departed to become president of the Las Vegas Raiders.
Williams Could Be Important Addition to Caesars Board
Williams could be a smart, well-timed addition to the Caesars slate of directors because data confirm there’s strength among the biggest spenders that visit the Las Vegas Strip — a coveted demographic to be sure and one that operators are increasingly focused on.
The operator is the second-largest on the Strip where it runs eight integrated resorts and while some of those properties, including Caesars Palace, are considered higher tier venues, others are not. Williams has the pedigree to help the operator gain traction with affluent customers.
Prior to his time at Diageo, Williams spent 11 years at Louis Vuitton Moet Hennessy where he oversaw prestigious brands such as Belevedere Vodka and was one of the architects of the popular “Never Stop. Never Settle.” Campaign for Hennessy cognac.
“Previously, Williams served as Chief Marketing Officer for the entire US brand portfolio, ranging from Don Perignon and Krug Champagnes to Glenmorangie Scotch, and before that as SVP for Hennessy US. Under his leadership, the Hennessy business quadrupled in topline sales and operating profit over a five-year period,” added Caesars in the press release.
Caesars Expands Board Diversity
Williams joins Harris Jones as the two African American directors on the Caesars board. Both directors spent time working for General Motors.
That’s a potentially important factor, because institutional investors are focusing on environmental, social, and governance (ESG) principles, including diversity among companies’ high-level management roles and corporate boards. More importantly, Williams resume confirms he’s up to the task and could be a value addition to Caesars.
“Before joining LVMH, Williams served as SVP of Lifestyle Brands for Jackson Family Wines, where his team delivered the largest new product launch in the company’s history, Kendall Jackson Avant wines. Previously, Williams had been SVP for Lifestyle Wines at Robert Mondavi before and after its acquisition by Constellation Brands,” according to the press release.
