Isaac Brekken / AP
Wynn Resorts’ new CEO Matt Maddox reacts as he speaks during an interview at Wynn Las Vegas, Monday, Feb. 19, 2018, in Las Vegas.
Tuesday, Nov. 9, 2021 | 1:41 p.m.
Wynn Resorts CEO Matt Maddox will step down from his post in January, according to a news release from the company.
Craig Billings, president and chief financial officer, will step into the role Feb. 1, the company said.
Maddox, who has been CEO since early 2018, “very successfully led the company through what could have been one of the most disruptive business transitions in decades,” Philip Satre, chairman of the board of directors, said in a statement.
Satre lauded Maddox for overseeing what he called “increased diversity” on the board, including the appointment of Darnell Strom last year.
Maddox ensured “a swift refreshment and remaking of the board of directors and senior management, resulting in Wynn being recognized as having of the most diverse boards of directors in the country,” Satre said.
Satre also praised Maddox for his leadership during the coronavirus pandemic.
“The entire board of directors is grateful for Matt’s dedication and leadership of the company and thanks him for all that he has done,” Satre said.
Maddox has been with Wynn for about two decades and will remain on the Wynn Macau and Wynn Interactive boards through the end of next year.
“This has not been an easy decision,” Maddox said in a statement. “But I believe now is the right time for me and for the business.”
