Wynn sets agreement

Following his resignation, Steve Wynn and company authorities arrive at an agreement.

US.- Steve Wynn, former Chairman and CEO of American casino company Wynn Resorts, resigned from his positions a few weeks ago following sexual abuse allegations against him. Now the company has announced that they have arrived at an agreement to cover Wynn’s departure.

“Pursuant to such registration rights agreement, Mr. Wynn may not sell during any quarter after the date of such agreement more than one-third of the company shares he holds as of the date of such agreement,” stated the company. Steve Wynn’s resignation will be completed by June, when the businessman leaves his residence as the agreement demands. Also, he will not receive any severance, nor financial compensation.

The agreement also establishes that Wynn will provide reasonable assistance “in connection with any private litigation or arbitration and to the board of directors of the company or any committee of the board in connection with any investigation” related to his service.

Former employees of Wynn claimed he’d displayed inappropriate sexual behaviour in front of them, while a manicurist told the Wall Street Journal that he forced her to have sex in his office. Steve Wynn’s position as CEO of the company will be taken over by Matt Maddox, who has been president of Wynn Resorts since 2013.