As Trump Entertainment Resorts continues to reduce executive staff to lower overhead expenses and return profitability to the recently restructured company, another senior officer has resigned.
According to a recent filing with the Securities and Exchange Commission, chief financial officer John P. Burke has tendered his resignation under the “change of control” clause put in affect when Trump Entertainment Resorts exited bankruptcy in July under the control of Avenue Capital.
After 18 years with Trump Entertainment Resorts, Burke age 62 will resign effective Friday September 17. Burke has served as chief financial officer for the company since November 2008. Burke’s severance package will pay him twice his annual base salary, which was reported to be $285,000 at the end of 2009.
The number of senior executives to resign from the Atlantic City gaming establishment is now 7. In the past two months Rosalind Krause, general manager of Trump Taj Mahal Casino Resort, Jim Rigot, general manager of Trump Plaza Hotel and Casino, Joseph A. Fusco, executive vice president of government affairs, Craig D. Keyser, executive vice president of human resources, Richard M. Santoro, executive vice president of asset protection and risk management and Ravneet Bhandari, senior vice president of revenue management have resigned.
