ATLANTIC CITY — Trump Entertainment Resorts Inc. recently named a new chief financial officer.
The agreement is effective the first Monday after his last day of employment at his current company, but no later than Jan. 12, 2011.
David R. Hughes, 47, had previously served as the corporate executive vice president and CFO of MTR Gaming Group, according to a financial statement filed by Trump on Oct. 14 with the federal Securities and Exchange Commission. MTR operates casinos and racetracks in West Virginia, Pennsylvania and Ohio.
It is the second MTR hire in the current Trump management shakeup. Hughes will join former MTR CEO Robert F. Griffin, 51, who will take over as Trump’s new chief executive later this month or early November.
Hughes previously worked for other gaming companies, including serving as senior vice president and CFO of Resorts Hotel and Casino until 2000 and in various positions at Trump Plaza Hotel and Casino from 1988 to 1995.
Hughes will receive $525,000, plus expected annual raises of at least the consumer price index, according to the SEC filing. Starting in December 2011, he will also be eligible for annual bonuses worth at least 35 percent of his base pay after 2011 and up to as much as his annual salary.
He will also receive stock, and the company will reimburse Hughes and his family for moving to the Atlantic City area as soon as practical, including up to three months stay at Trump’s properties.
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