Wynn Resorts has announced a further expansion of its board of directors, following the recent appointment of Phil Satre as the firm’s new vice chairman.
Reflecting a “comprehensive overhaul of the Wynn Resorts board,” the appointments of CEO Matt Maddox and independent director Richard J. Byrne sees eleven members now sit on Wynn’s board of directors.
Speaking of the latest development, Maddox commented: “We have made it our top priority to implement meaningful change at Wynn Resorts and have made demonstrable progress over the past six months.
“I am excited to be part of this refreshed board that is committed to growing the premier brand in luxury resort development.”
“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,” added Byrne. “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.”
Satre joins from IGT where he held the position of chairman of the board of directors, and is to succeed current Wynn chairman of the board Daniel Boone Wayson who is to step down at the end of the year.
Addressing the latest duo of appointments, Wayson stated: “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.
“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.”
This marks the latest step in Wynn’s development since the sexual misconduct allegations earlier this year, with six new directors sitting on its board and five legacy incumbents having departed their roles.