Wynn Resorts adds two new faces to Board of Directors

Wynn Resorts has announced that it has expanded its Board of Directors to 11 members with the appointment of CEO Matt Maddox and independent director Richard J. Byrne. 

These two additions to the Board, combined with the recent appointment of Phil Satre as Vice Chairman, who will succeed D. Boone Wayson as Chairman of the Board at the end of 2018, reflect a comprehensive overhaul of the Wynn Resorts Board. 

Over the past six months, the Company has appointed six new directors to its Board and announced the departure of five legacy directors.  One-third of the Wynn Resorts Board is comprised of women – which is in the top 10% among S&P500 companies in terms of female board representation.

“Matt has ushered in a new era at Wynn, providing outstanding leadership since stepping into the CEO role, and we are pleased to officially welcome him as a director on the Board,” Wayson said. 

“We are also pleased to add another high-caliber independent director with Rich, his deep financial expertise and knowledge of the lodging, leisure and gaming industries, including extensive familiarity with Wynn, will further enhance the Board’s expertise. “

New CEO Maddox said Wynn Resorts had made it a priority to enact “meaningful change” at the company, after former CEO Steve Wynn was forced out following allegations of sexual harassment.

Since this time Wynn Resorts has appointed three females to its corporate board of directors, making them one of the most diverse in the industry and vowed to hold quarterly meetings to address Women’s issues.

“We have made it our top priority to implement meaningful change at Wynn Resorts and have made demonstrable progress over the past six months,” Maddox said.

“I am excited to be part of this refreshed board that is committed to growing the premier brand in luxury resort development.”

Byrne has worked extensively in the gaming industry, including with Wynn Resorts, for whom he arranged debt and equity financing and advice.

“I am very familiar with the Wynn Resorts’ business, having followed the Company closely throughout my career in the financial sector, and I admire the Company’s position as the premier luxury destination resort developer and operator,” Byrne said. 

“I am confident in the Company’s bright future and look forward to working with the Board as the Company enters a new chapter of growth and success.”

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