Wynn Appoints Three New Women To Its Board
The recent sexual harassment scandal involving Wynn Resorts tycoon and former CEO Steve Wynn shook the multi-million dollar casino company to its core. However, now that the company is shuffling its board in Wynn’s wake, it is making sure to give women more opportunities to steer its future to right the wrongs of the past.
The Nasdaq-listed operator recently announced that it has increased its number of board members to 11 members in total through the appointment of three ‘highly-qualified’ women. These new board members will work as independent directors, helping to drive the firm towards an equal and inclusive horizon.
Wynn Resorts management has noted that the appointment of Wendy Webb, Betsy Atkins, and Dee Dee Myers has come as a ‘turning point’ for the casino operator, which is still desperately trying to recover from the scandal caused by its former CEO and founder. The announcement has also come less than a day after Steve Wynn’s ex-wife Elaine Wynn – the firm’s largest current shareholder – demanded a board overhaul in a bid to restore its reputation.
More Changes Still To Come
The appointments of the three women mentioned above makes the board of Wynn Resorts 36% female. This has seen the operator shooting into the top 40 list of S&P 500 companies in the category of female board representation – a smart move in the wake of a scandal in which many of the company’s women were victims.
Chairman D. Boone Wayson noted that the firm also intends to add more directors to its ranks over the next few months, hinting that women could again be at the forefront of the selection process. He also clarified that the appointments came as a first step in the firm’s efforts to refresh its board.
Women Take Center Stage At Wynn
Behind Boardroom Doors: Lessons of a Corporate Director author Atkins is a certified expert in corporate governance and digital renovation, as well as the categories of consumer technology and experience. Myers is well known in the political circle as an ex-spokeswoman of Bill Clinton, and the first woman to be named the White House Press Secretary. She is also currently the vice president for Worldwide Corporate Communications and Public Affairs at film giant Warner Bros. Entertainment.
Lastly, Webb currently acts as a director for ABM Industries, serving on the Audit Committee and also the Strategy and Risk Committee. She additionally holds a board position at software firm 9 Spokes.
Aside from the new appointments, Wynn Resorts is planning numerous other actions to improve its workplace equality as a response to the allegations against Steve Wynn. The company will establish a new department to ensure gender equality, fair treatment, diversity and women’s leadership, which will also offer improved staff benefits like paid maternal leave.