Wynn Resorts Limited announced that its Board of Directors, at a regular meeting, unanimously voted Philip G. Satre Chairman of the Board. Satre, an independent director who joined the Board in August 2018 as Vice Chairman, succeeds D. Boone Wayson who is retiring from the Board.
Wayson said, "We have ushered in a new era at Wynn Resorts, and I am proud of all the hard work the Board, our CEO Matt Maddox and the management team have done to improve the Company's culture and corporate governance, while maintaining focus on shareholder value. Phil has transitioned seamlessly onto the Board, and the time is now right for me to retire. It has been an honor serving this great Company, and I know its future is bright."
Satre said, "I am honored to be named Chairman of the newly refreshed Wynn Resorts Board and look forward to continuing to support the Company's transformation for the benefit of its shareholders and all of its stakeholders."
Matt Maddox, CEO of Wynn Resorts, said, "We appreciate Boone's contributions to our Company since its inception and for his leadership, which was crucial in maintaining stability at Wynn Resorts in 2018. He was instrumental in driving key initiatives and in our recent Board refreshment process. I am pleased to have a director of Phil's caliber to succeed Boone and help Wynn Resorts solidify its position as the premier luxury resort developer and operator in the world."
The Wynn Resorts Board is now comprised of 10 directors, six of whom joined the Board in 2018, and four of whom are women.
Satre is president of the National Center for Responsible Gaming. He has decades of leadership roles in the gaming industry, including as Chairman and CEO of Harrah's Entertainment, Inc. He has also served as Chairman of the Board of International Game Technology PLC, Nordstrom, Inc., and NV Energy, Inc. and has served as a director of Tabcorp Holdings Ltd. and Rite Aid Corporation. He has received numerous accolades, including election to the American Gaming Association's Hall of Fame.