Two members of Wynn Resorts Ltd. board of directors said they will step down, as the company continues to deal with the fallout from a Wall Street Journal investigation into alleged sexual misconduct by former Chief Executive Steve Wynn.
Board member Ray Irani will resign from the board immediately, according to the company WYNN, +0.98% . Alvin Shoemaker said he plans to serve through next year, when his term ends, but won’t seek re-election.
In the company’s first investor presentation since Wynn’s resignation early last month, newly appointed CEO Matt Maddox said Wednesday that the nine-member board intends to “expand and refresh its ranks” by bringing on new members.
Maddox pointed to results for the first two months of the year that he called “strong across the portfolio.” Total revenue for the company’s Macau properties were grew 27%, to $855.3 million, for the first two months of the year, compared with a year earlier. In Las Vegas, revenue fell 2% to $271.2 million for the first two months of the year, compared with $278.1 million a year earlier.
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