Wynn Resorts restructures its board
The Board of Directors of Wynn Resorts appointed three new independent members.
US.- The Board of Directors of Wynn Resorts announced that it has expanded its board to 11 members, with the appointment of Betsy Atkins, Dee Dee Myers and Wendy Webb as independent directors, effective immediately.
The Board approved the new directors at a previously-scheduled meeting in-person in Las Vegas on April 17th, 2018. The appointments, which were made after a lengthy search by the Nominating and Corporate Governance Committee with the assistance of a search firm, involved interviews of solely independent candidates and furthers the Company’s commitment to diversify the gender, skills and experience of the Board.
“These independent directors strengthen the Board’s expertise in corporate governance, communications and public affairs, technology, strategic positioning, hospitality and branding,” said Wynn Resorts in a press statement. The Wynn Resorts Board now comprises 35 per cent women, bringing Wynn into the top 40 S&P 500 companies in terms of female board representation.
D. Boone Wayson, Chairman of the Wynn Resorts Board of Directors, said: “We are pleased to welcome Betsy, Dee Dee and Wendy to the Wynn Resorts Board of Directors following a thorough search process that included input from shareholders and an independent executive search firm. We are confident that their extensive and wide-ranging expertise will provide fresh and valuable perspectives to support the Company’s leadership team and business strategy.”
“To be clear, this is the first step in our effort to refresh the Board,” said Wayson. “We intend to add additional new directors in the coming months. The Board is committed to enhancing value for our shareholders, delivering superior experiences for customers and creating a supportive and inclusive environment for all of the Company’s employees.”
Matt Maddox, Chief Executive Officer of Wynn Resorts, said, “I am thrilled to welcome these highly qualified independent directors to our Board. We have made it a priority to implement meaningful change at Wynn Resorts and are committed to elevating our corporate governance practices and fostering a diverse and inclusive workplace. In addition to strengthening our Board, these appointments make Wynn a global leader in board diversity. These appointments signify a turning point for us, and I look forward to working with each of our new directors as we usher in a new era at Wynn.”
The new additions to the Board and the resulting change in board composition are part of a series of significant strategic changes made by the Company. As previously announced, the Board has launched an internal investigation, led by a third-party law firm, into the Company’s awareness and response to allegations regarding its former CEO, Steve Wynn.
