Wynn Resorts offers this information related to the hearing before the Massachusetts Gaming Commission, beginning April 2. The Company will post updated statements and new releases, as they become available.
Review of Actions Taken to Address Workplace Culture And Improve Policies and Procedures
April 2, 2019
Over the past 12 months, Wynn Resorts has undergone a corporate transformation. We have embarked on a comprehensive self-examination of our company, its management and our workplace policies, procedures and culture. While we acknowledge that this examination did not reveal any systemic issues regarding sexual harassment at the Company, we are deeply troubled that certain former executives did not follow Company protocols when becoming aware of allegations against the Company’s founder, former chairman and CEO.
Consequently, we have made major changes at every level of key decision-making in the Company. Any employee identified as having been aware of allegations of sexual assault against the Company's former chairman and who did not investigate or report it is no longer with the Company. We have made meaningful changes to policies, practices, and procedures to ensure the Company has a safe, healthy and supportive workplace culture.
The following are among the specific actions the Company undertook in response to the allegations against Steve Wynn:
- Established immediately a Board of Directors Special Committee to review who at the Company was aware of the allegations against Mr. Wynn as well as conduct a sweeping review of the Company’s workplace policies and procedures;
- Changed the leadership of Wynn Resorts. The Company separated the roles of CEO and Chairman of the Board, consistent with best corporate practice. Matt Maddox was appointed CEO of Wynn Resorts, and the Company fully separated from Steve Wynn.
- Embarked on a comprehensive review of workplace policies including scrutiny of the Company’s harassment and human resource policies;
- Implemented changes including a revised and enhanced Preventing Harassment and Discrimination Policy, enhancements to the Company’s reporting and investigative process, a revised and now best-in-class Compliance Program, as well as changes to policies to avoid potential conflicts of interest;
- Commenced a robust Board refreshment process so that, as of today, the median tenure of our eight independent directors is now less than two years. In April 2018, the Board elected three new female directors, Betsy Atkins, Winifred (Wendy) Webb and Margaret (Dee Dee) Myers, resulting in a Board that is now nearly 50% women and in the top 10% of the S&P 500 in terms of female Board representation. In August 2018, the Board elected Philip G. Satre as Vice Chairman and Richard Byrne as a Director. In November 2018, Mr. Satre succeeded D. Boone Wayson as Chairman;
- Appointed Ellen Whittemore, a recognized expert in gaming regulatory and compliance matters, as General Counsel;
- Appointed Rose Huddleston, a seasoned human resources executive, to the new corporate position of Senior Vice President of Human Resources North America;
- Appointed Marilyn Spiegel, an executive with significant hospitality and human resources experience, as President of Wynn Las Vegas.
In addition to these personnel changes and changes to the company’s workplace policies and procedures, under the leadership of CEO Matt Maddox, the company has taken the following steps to further transform its workplace environment:
- Launched enhanced Workplace Compliance and Prevention of Sexual Harassment training for all employees, designed by a third-party expert and delivered in-person to all employees.
- Launched a Women's Leadership Council to promote equality within the workplace. The group's first activity was to produce a speaker series, "Women Who Thrive," to educate and inspire employees through powerful female role models.
- Commissioned pay and promotion equity studies to measure pay equality among men and women in the workforce.
- Launched a Paid Parental Leave program that provides paid time off to new parents.
- Implemented new Diversity, Inclusion and Unconscious Bias training for all employees taught by third-party experts. Company senior executives completed an eight-hour training program.
- Launched the Great Places to Work survey and focus groups which measure employee engagement against the Fortune "100 Best Places to Work."
- Launched a new annual Wynn Employee Foundation scholarship program, which has awarded ten $7,500 college scholarships to employees and their dependents.
- Refocused efforts on the Company's workplace culture by making the aforementioned activities a top priority for the Company's new Human Resources leadership.
By establishing new reporting requirements and investigation processes, increasing workplace oversight, and mandating updated training, including training around sexual harassment, we have reestablished a culture in which employees are encouraged to come forward and employees at all levels are held accountable. We are making clear, in both policy and action: Every employee is entitled to a safe and respectful workplace and no employee, at any level of our company, is above the rules. Read Full Statement