Caesars Entertainment Corporation has announced that Gary Loveman, chairman and chief executive officer, will begin transitioning management of the company at the end of the first quarter. Loveman will continue to serve as chairman of Caesars Entertainment and of Caesars Entertainment Operating Company. Meanwhile, the former chairman and CEO of Hertz Global Holdings, Mark Frissora, joins the board of directors immediately and will take over the role of CEO on July 1. The change comes less than a month after Caesars’ operating unit filed for Chapter 11 bankruptcy to implement its plan to cut $10 billion of debt. Read more over at the Las Vegas Review-Journal.