- Push-out Score determined
- After less than four years in the position
- Praise and thanks for Maddox
- Craig Billings taking over
- Maddox made a lengthy statement and said 261 words
(exechange) — Las Vegas, Nevada, November 9, 2021 — Matt Maddox, chief executive of Wynn Resorts, leaves. As announced by Wynn Resorts Ltd. in a news release and in a regulatory filing published on Tuesday, November 9, 2021, Matthew (Matt) Maddox, chief executive officer, leaves the casino operator, after less than four years in the role, effective January 31, 2022.
Matt Maddox’s duties as CEO will be taken over by Craig S. Billings, currently President and Chief Financial Officer at Wynn Resorts Ltd.
“Now is the right time for me and for the business”
Matt Maddox’s departure from the CEO post is explained as follows. Maddox said: “This has not been an easy decision. I am leaving a company that I love and that’s full of people I admire. But I believe now is the right time for me and for the business.”
Precise information regarding Matt Maddox’s future plans was not immediately available.
Wynn Resorts said: “Matt Maddox, CEO of Wynn Resorts, announced today that he will be leaving the Company January 31, 2022.”
Share price decline since February 2018
The announcement follows a decline in Wynn Resorts Ltd.’s share price of 44% since February 2018. February 2018 is the month in which Maddox’s tenure as CEO began.
In the position of CEO since 2018
Matt Maddox became CEO of the Company in 2018.
Following a unanimous request by the Board of Directors, Maddox agreed to remain on the Wynn Macau Limited and Wynn Interactive Limited Boards through the end of 2022.
Maddox has served as the Company’s Chief Executive Officer since February 2018 and served as President from November 2013 to May 2019.
He has been a member of the Board of Directors of Wynn Resorts, Limited since August 3, 2018.
He was a non-executive Director of Wynn Macau, Limited from March 28, 2013 until he was re-designated as an Executive Director, upon his appointment as CEO of Wynn Macau, Limited, in February 2018.
From March 2008 to May 2014, Maddox was the Company’s Chief Financial Officer.
Since joining Wynn Resorts in 2002, Maddox has served as the Company’s Senior Vice President of Business Development and Treasurer, as the Senior Vice President of Business Development for Wynn Las Vegas, as the Chief Financial Officer of Wynn Resorts (Macau), S.A., and as the Company’s Treasurer and Vice President-Investor Relations.
Maddox also serves as an officer of several of the Company’s subsidiaries.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Matt Maddox’s move on a scale of 0 to 10.
exechange reached out to Wynn Resorts and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 46.2021 ($).