File 033338
Trump Hotels & Casino Resorts Press Release on Executive Transition (File 033338)
June 2000 press release announcing the mutual agreement between Donald Trump and Nicholas Ribis to end their professional relationship at Trump Hotels & Casino Resorts, Inc., marking the conclusion of their second five-year contract.
Summary
On June 13, 2000, Donald Trump and Nicholas Ribis announced the conclusion of their formal professional relationship following the end of their second five-year contract with Trump Hotels & Casino Resorts, Inc. Ribis, who had served 14 years as outside counsel and 10 years as CEO of Trump Organization and Trump Hotels & Casino Resorts, cited the company's growth and Trump's desire to focus on Atlantic City operations as reasons for the transition. Trump acknowledged Ribis's long tenure and stated his intention to take a greater role in day-to-day operations. Ribis transitioned to a one-year agreement for special projects with The Trump Organization.
011.- ....ft JON/ U g a/ /7 2 et: 43089::.71 Fla 8:141:31, 41.21t) rw/,//€,t/ feiltc v-5Ho TELIS.REEXHIBIT "C"FOR IMMEDIATE RFE VASEFor more information contactDonald J. Trump (212) 832-2000New York, June 13,2000 — Donald J. Tramp and Nicholas L. Ribis today confirmed thattheY have mumallY agreed to end their formal, pmfessional relationship. The announcement comesat the conclusion of the second five year contract between Mr. Ribis and Trump Hotels & CasinoResorts, Inc.Mr. Trump commented, 'Nick Ribis has worked closely with me since the early 1990s andthe evolution of our gaming company into a publicly-owned entity. Given my desire to play a greaterrole in the Company's day-to-day activities, I can understand Nick's decision to pursue otheropportunities at the chief executive officer level."Mr. ftibis said that the time was right for a career change. "Donald's New York City realestate business has reached an unparalleled level and he, appropriately, wants to focus on AtlanticCity, his other principal activity. While Donald and I have been a te:am for many years, there is onlyroom for one decision-maker in any organization. I respect Donald's decision to focus on AtlanticCity and wisliMr. Ribis' tenure with Trump includes 14 years as an outside attotney and 10 years as ChiefExecutive of first The Trump Oriwintion and later Trump Hotels & Casino Resorts, Inc.. Mr.Ribis has entered into a one-year agreement to work on special projects for The Trump Org,anizattion.