Wynn Resorts has appointed Phil Satre to the position of chairman of the board.

Satre, an independent director who joined the board in August 2018 as vice chairman, succeeds D Boone Wayson, who is retiring from the board.

Wayson said: “We have ushered in a new era at Wynn Resorts and I am proud of all the hard work the board, our CEO Matt Maddox and the management team have done to improve the company's culture and corporate governance, while maintaining focus on shareholder value.

“Phil has transitioned seamlessly onto the board and the time is now right for me to retire. It has been an honour serving this great company and I know its future is bright.” 

Satre said: “I am honoured 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.”

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 calibre to succeed Boone and help Wynn Resorts solidify its position as the premier luxury resort developer and operator in the world.” The Wynn Resorts board is now comprised of 10 directors, six of whom joined the board in 2018 and four of whom are women.