Phil Satre, a longtime figure in the gaming community, has joined Wynn Resorts’ Board of Directors and will become its next chairman.
Wynn Resorts officials on Monday announced leadership changes for its board, which has undergone restructuring since the company’s namesake, Steve Wynn, faced sexual misconduct allegations and then resigned as chairman and CEO earlier this year.
Satre has been appointed as vice chairman, but the board plans to name him chairman later this year, officials said. The changes are part of a succession plan because Boone Wayson, who has been serving as board chairman, plans to step down at the end of this year but will remain a board member.
Satre, whose gaming career spans more than a quarter century, is president of the National Center for Responsible Gaming and previously served as chairman and CEO of Harrah’s Entertainment, Inc. He also has been chairman of the Board of International Game Technology PLC, Nordstrom, Inc., and NV Energy.
Wayson said Satre’s appointment marks a “significant step forward for Wynn Resorts” as the gaming company moves beyond the last six months.
Elaine Wynn, who co-founded the company with her ex-husband and is its largest shareholder, echoed those comments.
“I have long respected Phil as a leader in the gaming industry and am confident that his addition to the Company’s leadership team, coupled with the plans laid out by Management, will bring the Company tremendous success in the years to come,” she said in a statement. “Phil’s role as vice chair, and as chairman in the future, will be key to furthering the Wynn Resorts brand as one of the premier destination resort operators in the world.”
Satre said he is honored to join the board and be involved in the company’s future.
“I applaud the efforts by Management and the Board to respond to the current challenges faced by this otherwise first-class enterprise,” he said in a statement. “The strength of the current Board of Directors, combined with the leadership of Matt Maddox and his team, give me confidence that the future is bright for Wynn Resorts.”
After Wynn resigned, the board appointed Maddox, then president of the company, to be its CEO.
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