Quantcast

Steve Wynn steps down as CEO of Wynn Resorts amid misconduct all - KVOA | KVOA.com | Tucson, Arizona

Steve Wynn steps down as CEO of Wynn Resorts amid misconduct allegations

Posted: Updated:

Billionaire casino magnate Steve Wynn stepped down as CEO of Wynn Resorts, the company said Tuesday.

Wynn, who has donated millions to the Republican Party, was accused sexual misconduct by several people who have worked at his Las Vegas casinos, according to a report in The Wall Street Journal in late January. The article detailed a pattern of behavior that spans decades and included accusations by employees that they were coerced by him to perform sex acts.

"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," Boone Wayson, non-executive director of the board of directors, said in a statement.

Jan. 27: Steve Wynn resigns as RNC finance chair amid misconduct allegations 1:06

Wynn has denied the allegations in the Journal report but he said in the statement from the board that "In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity.

"As I have reflected upon the environment this has created — one in which a rush to judgment takes precedence over everything else, including the facts — I have reached the conclusion I cannot continue to be effective in my current roles. Therefore, effective immediately, I have decided to step down as CEO and Chairman of the Board of Wynn Resorts, a company I founded and that I love," Wynn said in the statement.

Wynn had already stepped down as finance chair of the Republican National Committee.

In Tuesday's statement, Wynn said the company would continue, and "I am extremely proud of everything we have built at this company. Most of all, I am proud of our employees."

Wynn Resorts said details of Wynn's separation agreement will be disclosed when they are finalized.

The president of Wynn Resorts, Matt Maddox, was appointed as the CEO of the company by the board of directors, the board said. Wynn said in the statement that he endorses the decision and that "With Matt, Wynn Resorts is in good hands." 

WEATHER
Interactive Radar
  • Most Popular StoriesMost Popular StoriesMore>>

  • Hispanic customers accuse gas station cashier of refusing service for speaking Spanish

    Hispanic customers accuse gas station cashier of refusing service for speaking Spanish

    Monday, February 19 2018 10:25 PM EST2018-02-20 03:25:47 GMT

    An evening night out to celebrate Valentine's Day turned into a viral discussion on social media for Tucson resident Guadalupe Lopez. 

    An evening night out to celebrate Valentine's Day turned into a viral discussion on social media for Tucson resident Guadalupe Lopez. 

  • Firefighter's killer to be released after 5 years

    Firefighter's killer to be released after 5 years

    Tuesday, February 20 2018 2:00 AM EST2018-02-20 07:00:48 GMT

    According to the Arizona Department of Corrections a man convicted of killing a Southern Arizona firefighter will be released on Tuesday. 

    According to the Arizona Department of Corrections a man convicted of killing a Southern Arizona firefighter will be released on Tuesday. 

  • Cold front queued up

    Cold front queued up

    Monday, February 19 2018 10:21 AM EST2018-02-19 15:21:45 GMT

    TUCSON - A quick hitting cold front sweeps through the state over the next 24 hours.

    TUCSON - A quick hitting cold front sweeps through the state over the next 24 hours.

Powered by Frankly

© KVOA.com 2018, KVOA.com
A CORDILLERA COMMUNICATIONS Station
All rights reserved
Privacy Policy, | Terms of Service, and Ad Choices

Can't find something?