Wynn Resorts names chairman
The company appointed Phil Satre as vice chairman of the board as part of a settlement with Elaine Wynn.
US.- Wynn Resorts has announced the appointment of Phil Satre as vice chairman of the company’s boards, and its plans to name him chairman by the end of the year. The executive changes come after Steve Wynn’s sexual harassment accusations surfaced earlier this year.
The appointment is part of the company’s settlement with Elaine Wynn, who has been trying to diversify the board of directors since her former husband was accused of sexual harassment. The agreement details that Satre will take the role after the resignation of the current chairman, Boone Wayson, who is expected to leave no later than December 31st, 2018.
Wynn’s agreement with Elaine Wynn also establishes that she is not allowed to increase her stake in the company past 9.9 per cent and that she is not able to propose any additional directors or push for Satre’s appointment earlier than expected.
