UPDATE 1-Pinnacle CEO departs; search for successor set

*Chairman, CEO resigns; search committee formed

*Board members named to interim posts

*Shares up 3.2 pct

ATLANTA, Nov 9 (Reuters) - Pinnacle Entertainment Inc (PNK.N) said on Monday that Daniel Lee had resigned as chairman and chief executive officer to pursue other interests, and it named two board members to head the casino operator while it looks for a replacement.

The company, whose shares rose more than 3 percent, named Richard Goeglein as interim nonexecutive chairman and John Giovenco as interim CEO.

A Pinnacle Entertainment representative was not immediately available for comment.

Oppenheimer analyst David Katz said in a note to clients that Goeglein and Giovenco had broad experience in hospitality and gaming, which could stabilize operations pending the naming of a replacement.

Goeglein held executive positions at Aladdin Gaming, Holiday Corp and Harrah's Hotels and Casinos, Pinnacle said, while Giovenco was an executive of Sheraton Hotels Corp and Hilton Gaming Corp.

But Katz also wrote that "the sudden resignation of the CEO for reasons that are not entirely clear creates uncertainty for the shares."

Lee's departure could affect Pinnacle's refinancing efforts to support growth, Katz added. He said the company was completing its River City Casino project in St. Louis County, Missouri, scheduled to open next year, and added that the management change could be tied to "recent reports from the St. Louis County Council that referenced conflicts between Dan Lee" and council members.

Pinnacle Entertainment also said the board's executive committee had been revamped and would include Giovenco and Goeglein, as well as Ellis Landau, retired finance chief of Boyd Gaming Corp (BYD.N), and Bruce Leslie, a lawyer.

Shares of Pinnacle were up 28 cents, or 3.2 percent, at $9.00 on the New York Stock Exchange. (Reporting by Karen Jacobs, with added reporting by Deepa Seetharaman)