Real Writers. Real Opinions. No Boundaries.

Real Estate Mogul Steve Wynn Resigns From CEO Position Amidst Sexual Misconduct Allegations

Billionaire real estate mogul Steve Wynn resigned as CEO of Wynn Resorts, the company reported Tuesday.

Wynn, known for his donations to the Republican Party, was blamed by several people for sexual misconduct at his Las Vegas Casinos, according to an article from The Wall Street Journal last month. The report shared Wynn’s acts, which went on for decades and featured accusations from his own employees.They shared a discomfort in being forced to perform sex acts with Wynn.

“It is with a collective heavy heart that the board of directors of Wynn Resorts today accepted the resignation of our founder, CEO and friend Steve Wynn,” Boone Wayson, non-executive director of the board of directors, said in a statement.

Wynn denied the allegations in the Journal report but he shared in the statement from the board:

In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity. As I have reflected upon the environment this has created — one in which a rush to judgment takes precedence over everything else, including the facts — I have reached the conclusion I cannot continue to be effective in my current roles. Therefore, effective immediately, I have decided to step down as CEO and Chairman of the Board of Wynn Resorts, a company I founded and that I love.

Wynn stepped down as finance chair of the Republican National Committee two weeks ago amid the allegations.

Wynn Resorts shared that details of Wynn’s separation agreement will be revealed when they are finalized.

Matt Maddox, president of Wynn Resorts, was appointed as the CEO, the board said. Wynn said in the statement that he supports the decision and that “with Matt, Wynn Resorts is in good hands.”

[via NBC News]


You might also like