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Wynn Resorts CEO resigns amidst sexual abuse allegations

Wynn Resorts CEO resigns amidst sexual abuse allegations

Stephen A. Wynn has stepped down as chief executive and chairman of Wynn Resorts Ltd. the company said in a statement Tuesday night. Matt Maddox, the company’s president, will take over as Chief Executive Officer.

“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,” non-executive director of the board Boone Wayson said in the statement.

Last month, the Wall Street Journal reported the casino magnate had a long history of sexual misconduct allegations against him, and had pressured his employees into sex acts. The Las Vegas billionaire has vehemently denied the allegations, which he attributed to a campaign led by his ex-wife.

Wynn resigned as finance chairman of the Republican National Committee following the report.

“In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity,” Wynn said in a statement Tuesday. “I have reached the conclusion I cannot continue to be effective in my current roles.”

A number of women have said that Wynn harassed or assaulted them, with one case ending in a $7.5 million settlement.

Read the full article: https://www.eturbonews.com/177279/wynn-resorts-ceo-resigns-amidst-sexual-abuse-allegations

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