Craig Billings to Become Next CEO of Wynn Resorts
Matt Maddox has announced that he will step down as CEO of Wynn Resorts (NASDAQ: WYNN) on 31 January 2022.
The company Board has unanimously agreed upon Craig Billings to replace him effective 1 February 2022. Billings is currently CEO of Wynn Interactive, and he has served as President and CFO of Wynn Resorts.
However, following a unanimous request from the Board, Maddox has agreed that he will remain on the boards of Wynn Macau Limited and Wynn Interactive Limited until the end of 2022.
Matt has done an incredible job as CEO since his appointment four years ago. He very successfully led the company through what could have been one of the most disruptive business transitions in decades. Matt’s strategy to confront the pandemic and its economic impact on the company proved to be the correct one: make decisions focused on the welfare of employees, guests, and communities, and invariably the business and its shareholders will reap the rewards. He was a leader in the recovery of the Nevada hospitality industry, and his leadership in this area was recognized nationally as well.
Maddox has been with Wynn Resorts for two decades and became CEO in February 2018. He saw the company through some of its most difficult periods following the resignation of Wynn’s founder and the global pandemic.
In a statement, Maddox explained that it was not an easy decision to leave but that he believes it is the correct time to do so. He spoke about the challenges of the last four years and detailed some of the company’s achievements:
We quickly resolved litigation that had distracted the company for seven years. We reorganized the company’s leadership team and focused on our 28,000 employees, rebuilding, and strengthening our powerful culture to focus on a common purpose: create and deliver the best guest experiences.