Tony Chapelle – Agenda Week – February 2018
The bombshell news two weeks ago that Steve Wynn, chairman and CEO of Wynn Resorts, allegedly raped one employee and sexually harassed numerous others reminded board directors just how much reputational damage can cost.
At Agenda ’s press time, Wynn shares had lost 15% of their value since Jan. 26, when The Wall Street Journal reported the story. The Journal claims to have interviewed 150 current or former employees and uncovered the fact that Wynn paid a $7.5 million settlement to the married woman who accused him of rape.
It’s still early, but Wynn Resorts is already a candidate for one of the worst corporate reputation crises of 2018. Meanwhile, Agenda is back for the second year to name the companies — sometimes abetted by their boards — that wrecked their standing and enterprise value the most in 2017.
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