A few weeks ago, the Wall Street Journal took on casino mogul Steve Wynn by publishing allegations of a “decades-long pattern of sexual misconduct” as outlined by his Las Vegas employees. This quickly led to Wynn resigning as the Republican National Committee finance chair, although the RNC stated that the organization wouldn’t return Wynn’s (substantial) monetary donations unless he was actually found guilty of sexual misconduct. While Wynn has denied all wrongdoing, he is now taking action in the wake of mounting allegations.
CNN Money reports that Wynn is formally resigning as CEO of his own company, Wynn Resorts, for PR reasons. He provided the following statement:
“In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity. As I have reflected upon the environment this has created — one in which a rush to judgment takes precedence over everything else, including the facts — I have reached the conclusion I cannot continue to be effective in my current roles.”
Although Wynn hasn’t specified exactly which part of the bad-PR avalanche prompted his decision, the announcement arrives one day after the Las Vegas Review-Journal admitted that it killed a 1998 story about Wynn’s alleged misconduct after his attorneys contacted the paper.
Wynn Resorts has already appointed a new CEO, Matt Maddox, who has been serving as president of the company, although Boone Wayson (a company director) has come forward to state that the company has accepted Wynn’s resignation “with a collective heavy heart.”
(Via CNN Money)