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Thursday, April 19, 2018

Women get more representation in Wynn Resorts board shakeup

Casino – CalvinAyre.com
Women get more representation in Wynn Resorts board shakeup

Las Vegas-based casino operator Wynn Resorts is giving women more opportunity to be heard in the company in the wake of a sexual harassment scandal involving its founder and former CEO Steve Wynn.

Women get more representation in Wynn Resorts board shakeupThe Nasdaq-listed firm announced that that it has expanded the composition of its board to 11 members in order to appoint three “highly-qualified” women as independent directors.

Wynn Resorts said the appointments of Betsy Atkins, Dee Dee Myers and Wendy Webb signifies “a turning point” for the casino operator, which is still reeling from the scandal tied to its former leader. The announcement comes a day after Elaine Wynn, currently Wynn Resorts’ largest single shareholder, requested an overhaul of the entire board to “fully restore” the company’s reputation.

The appointment of Atkins, Myers, and Webb makes Wynn’s board 36 percent female, catapulting the casino operator into the top 40 S&P 500 companies in terms of female board representation.

Wynn chairman D. Boone Wayson said the company intends to add a few more new directors in the coming months.

“To be clear, this is the first step in our effort to refresh the board,” Wayson said in a statement.

Atkins, author of Behind Boardroom Doors: Lessons of a Corporate Director, is recognized as an expert in corporate governance and digital transformation, consumer experience and technology.

Meanwhile, Myers is known in the political circle as the ex-spokesman of former U.S. President Bill Clinton and the first woman to serve as the White House press secretary. She is currently the executive vice president for Worldwide Corporate Communications and Public Affairs at Warner Bros. Entertainment.

Finally, Webb is currently a director of ABM Industries, where she serves on the Audit Committee and Strategy and Risk Committee, and is on the board of 9 Spokes, a software company.

Aside from the appointments of the three women, Wynn Resorts noted significant actions to improve the workplace environment in response to the allegations regarding its former CEO. The company said it created a new department focusing on gender equality, diversity, fair treatment and female leadership and launched new employee benefits, such as paid parental leave.

Steve Wynn has sold his stock in the company, including 8 million shares to two long-term institutional investors, as part of the casino operator’s sweeping reforms.

The post Women get more representation in Wynn Resorts board shakeup appeared first on CalvinAyre.com.

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