Former Harrah’s boss Phil Satre has officially taken over from D. Boone Wayson as Chairman of Wynn Resorts following a unanimous vote at a board meeting overnight.
His appointment comes almost three months to the day since he first joined the board as Vice Chairman as part of an agreement between Wynn Resorts and its largest shareholder Elaine Wynn, who ran a lengthy campaign against a number of former board members following the downfall of her ex-husband and company founder Steve Wynn in February. Under the terms of the agreement, Elaine Wynn will no longer push for any new board changes.
The Wynn Resorts board is now comprised of 10 directors including six new to the board in 2018 and of whom four are women.
“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,” Satre said.
Wynn Resorts CEO Matt Maddox added, “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.”