Wynn CEO’s sudden departure has analysts scratching their heads

The surprise departure of Wynn Resorts CEO Matt Maddox has flummoxed Wall Street analysts, who note that it comes at a highly inconvenient time as the casino giant is angling to renew its gaming license in Macau.

And shareholders were given very little warning that Maddox was heading for the exit.

Just moments before the Wynn Resorts earnings call Tuesday, the company made a surprise announcement that 45-year-old chief executive officer Matt Maddox was leaving his job before his contract with Wynn was up. Maddox’s employment contract was through December 2022; he has signed a non-compete agreement through that date, The Post confirmed.

This week, it emerged that Maddox had been probed by the board last year because of an anonymous allegation. It isn’t clear what the allegation entailed.

Source: https://nypost.com/2021/11/11/wynn-ceos-sudden-departure-has-analysts-scratching-their-heads/