Wynn Resorts has increased the size of its board to 11 members after announcing the appointments of CEO Matt Maddox and independent director Richard J Byrne overnight.
Their addition comes just a day after former Harrah’s boss Phil Satre was named as the company’s new Chairman, to replace D. Boone Wayson by the end of the year.
In a statement, Wynn Resorts said that the addition of Maddox, Byrne and Satre this week reflects “a comprehensive overhaul of the Wynn Resorts board” since the departure of Steve Wynn in February amid sexual assault allegations. In that time, the company has farewelled five legacy directors and appointed six new directors.
“Matt has ushered in a new era at Wynn, providing outstanding leadership since stepping into the CEO role, and we are pleased to officially welcome him as a director on the board,” said Wayson. “We are also pleased to add another high-caliber independent director with Rich. His deep financial expertise and knowledge of the lodging, leisure and gaming industries, including extensive familiarity with Wynn, will further enhance the board’s expertise.”
Byrne is currently President of Benefit Street Partners and serves as Chairman and CEO of both Benefit Street Partners Realty Trust, Inc and Business Development Corporation of America. He is a former CEO of Deutsche Bank Securities, Inc and was Global Co-Head of Capital Markets at Deutsche Bank as well as a member of the Global Banking Executive Committee and the Global Markets Executive Committee.
“We have made it our top priority to implement meaningful change at Wynn Resorts and have made demonstrable progress over the past six months,” said Maddox. “I am excited to be part of this refreshed board that is committed to growing the premier brand in luxury resort development.”