Wynn Macau Confirms Appointment of Craig Billings
Wynn Macau (HKG: 1128) has confirmed the appointment of Craig Billings as its next Chief Executive Officer, taking effect from January 31, 2022. He will be replacing the current CEO, Matt Maddox.
Wynn Resorts, the controlling shareholder of Wynn Macau, had previously announced that Billings is set to take the role of group-wide CEO after a unanimous request from the board of directors. He shall remain on the board of both Wynn Macau and Wynn Interactive until the end of next year.
As well as taking on CEO duties, Billings will be re-designated an executive director from a non-executive director. Conversely, Maddox will be re-designated from an executive director to a non-executive director, and this second appointment will end on December 31, 2022.
It will bring to an end Maddox’s two decades at Wynn Resorts, where he has been praised for taking the group “through a very difficult period of time in its history.” He has been CEO since February 2018.
Maddox has also confirmed that he has “no disagreement with the board, and there is no matter relating to his CEO resignation and his director re-designation that needs to be brought to the attention of the shareholders or the stock exchange.”
The board chose Billings to become CEO and a member of the Wynn Resorts board last month. In the past, he has served as president and CFO of Wynn Resorts.
In a media statement, Wynn Macau stated, “Subject to the completion of certain Macau regulatory procedures, Mr. Billings will become the chairman of the board of directors of WRM.”
Last month, Wynn also delivered an update on its performance during Q3. It saw group-wide revenue increase 59.3% year-on-year to $994.6 million with an increase in all reporting segments.
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