LAS VEGAS (AP) — The board of directors of Las Vegas-based Wynn Resorts is undergoing more changes.
The casino operator on Monday announced industry veteran Phil Satre has been named vice chairman of the board and will become its chairman in the coming months.
This is the latest change to the board since sexual misconduct allegations against founder Steve Wynn rocked the company earlier this year. He has denied the allegations.
Current chairman D. Boone Wayson will step down from his post by Dec. 31. Wayson in a statement called Satre’s appointment “a significant step forward.”
Satre was the longtime chairman and CEO of Harrah’s Entertainment.
His appointment is part of an agreement with the company’s top shareholder, Elaine Wynn, that limits the activist pressure she can put on the company.
