Steve Wynn is out as CEO of the company he founded, Wynn Resorts, announcing he’s stepping down amid allegations of sexual misconduct against him …
The casino magnate resigned Tuesday as CEO and Chairman of the Board of Directors. Wynn says … “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.”
The board has appointed current President, Matt Maddox, as its new CEO, and Boone Wayson as Non-Executive Chairman of the Board of Directors, effective immediately.
Various women have made claims of sexual misconduct against Wynn, according to the Wall Street Journal. He’s vehemently denied the allegations.