After two decades with Wynn Resorts and four years as CEO, Matt Maddox has announced he is retiring from the company at the end of January.
“This has not been an easy decision. I am leaving a company that I love and that’s full of people I admire,” Maddox said in a press release. “But I believe now is the right time for me and for the business.”
The executive took over the helm of the hotel and casino company in the wake of the resignation of its founder and namesake Steve Wynn, following allegations of his sexual misconduct. Wynn has denied the allegations.
The company board picked Craig Billings, currently CEO of Wynn Interactive, as the new CEO.
Billings has served as president and CFO of Wynn Resorts, and previously held executive roles with Goldman Sachs, Aristocrat Leisure, NYX Gaming Group and International Game Technology.
Maddox led the publicly traded company through the fallout from the Wynn scandal and the Covid-19 pandemic, which resulted in a months-long shutdown of gaming in the United States last year.
“Matt has done an incredible job as CEO since his appointment four years ago. He very successfully led the company through what could have been one of the most disruptive business transitions in decades,” Wynn Resorts Board Chairman Philip G. Satre said in a press release.
Maddox guided the company during the licensing in Massachusetts and the opening in June 2019 of the Encore Boston Harbor. He is also credited with the resolution of seven years of what he called distracting litigation and a reorganization that he said focused the company’s 28,000 employees on a Wynn Resorts brand of customer experience.
Maddox will continue serving as a board member for Wynn Macau Ltd. and Wynn Interactive through the end of 2022, the company said.