Steve Wynn resigned after sexual accusations

Stephen Wynn will no longer be part of Wynn Resorts board of executives.

US.- The international media confirmed that Stephen Wynn, chairman and chief executive of Wynn Resorts, has decided to resigned from his position in his company after the scandal involving sexual allegations against him. Wynn Resorts operates casinos worldwide and is positioned as one of the leading companies of the international industry.

After the media published the accusations against the casino mogul, Wynn Resorts stock fell more than 10 per cent last Friday. Former employees of Wynn claimed he had had inappropriate sexual behaviour in front of them, whilst a manicurist told the Wall Street Journal that he forced her to have sex in his office.

Stephen Wynn’s job position as CEO of the company will be taken by Matt Maddox, who has been president of Wynn Resorts since 2013. The official statement published by Wynn after the resign announcement argues that the decision was made as “an avalanche of negative publicity” had created an environment “in which a rush to judgment takes precedence over everything else, including the facts.”

The CEO was accused of sexual misconduct by several employees but firmly denied these allegations: “The idea that I ever assaulted any woman is preposterous (…) We find ourselves in a world where people can make allegations, regardless of the truth, and a person is left with the choice of weathering insulting publicity or engaging in multi-year lawsuits. It is deplorable for anyone to find themselves in this situation.”