Howard "Butch" Kerzner, CEO of Kerzner International Holdings, was killed along with three others on Wednesday in a helicopter crash in the Dominican Republic.
"It is with great sadness that we mourn the tragic loss of Butch Kerzner," the company said in a statement.
Paul O'Neil, a board member and the former CEO of the company’s Paradise Island business, has been appointed acting CEO of Kerzner International, effective immediately.
A former investment banker with a Stanford MBA, Butch Kerzner was in the Dominican Republic scouting possible new development sites for The Bahamas-based casino resort operator and developer. Reports indicated that the helicopter encountered inclement weather and may have experienced mechanical problems.
The Kerzner family has established The Butch Kerzner Memorial Fund, which will be used to improve playgrounds and other sports facilities in public schools in The Bahamas. Donations can be made by check to The Butch Kerzner Memorial Fund, c/o Kerzner International, 730 Fifth Avenue, 5th floor, New York, NY, 10019.
Kerzner, 42, is survived by his wife and two children.