Reopening the director nomination period for Wynn Resorts’ board is neither appropriate nor justified, chairman Boone Wayson said in a letter to Elaine Wynn, the company’s now largest shareholder.
The appointment of three independent female directors shows Wynn’s commitment to immediate and meaningful change to the board, he said.
Elaine Wynn requested the board reopen the nomination period ahead of the annual meeting to bring new people to the board considering the massive changes the company underwent since her ex-husband and former CEO Steve Wynn was accused of sexual misconduct.
Elaine requested either a majority of new board members or for the board to be declassified with all directors facing re-election annually.
Source: Fantini’s Gaming Report
