Kerzner International Limited has announced the succession plan for its Bahamas business in response to the retirement of President/Managing Director Paul O’Neil.
The company said, George Markantonis, who joined the Kerzner International as President/Managing Director of Atlantis, The Palm, Dubai in February 2004, will succeed Mr. O’Neil, who will officially leave his post in early 2006.
Mr. Markantonis will assume his new position in September 2005 and will report directly to Howard Karawan, President/Managing Director of the Company’s Destination Resorts business, the company said in a statement.
Mr. Markantonis will be based in The Bahamas.
Butch Kerzner, CEO of the Company, commented, “From the beginning of his tenure with the company, Paul O’Neil made clear his plan to retire in 2006. His leadership and outstanding team have enabled the growth of our Paradise Island business over the past five and a half years.
“Based upon Paul’s desires and the progress of our Phase III expansion project, this is an ideal time to begin the transition to George’s leadership of our Bahamian businesses. While we can never replace Paul, we are very fortunate that we have an executive within the Kerzner family whom we all believe is the ideal successor. We are pleased to have a person with George’s extensive background in hotels and destination resorts to take on this major responsibility.”
Since joining the company, Mr. Markantonis has played a key role in the planning and development of Atlantis, The Palm, Dubai, the destination resort and vast water-theme park that will extend the Atlantis brand into one of the fastest growing tourist destinations in the world, the statement said.
It added that with Mr. Markantonis’s promotion and move to The Bahamas, continued development of Atlantis, The Palm, Dubai will be handled by Alan Leibman, President/Managing Director of Kerzner’s destination resort casino development, Mazagan, in El Jadida, Morocco.
Prior to joining the company, Mr. Markantonis was senior vice president of hotel operations for Caesars Palace in Las Vegas, where he held overall responsibility for day-to-day operations of the 2,500-room, 80-acre luxury resort.
Howard Karawan noted, “This is a very exciting time for the company, especially for the Paradise Island businesses. Construction of Marina Village at Atlantis, a 65,000 square foot project including four new restaurants and retail space around the Atlantis Marina, is well underway and nearing completion.
“We have recently begun construction of the expanded water theme park and planning for the remaining elements of the Phase III development is reaching an advanced stage. It was paramount for us to ensure a strong succession plan, and Paul’s legacy of leadership combined with George’s background and experience will be a tremendous asset to the Paradise Island operations.”
