In the latest sign of tension between Elaine Wynn and the casino company she co-founded, the billionaire said she backed a candidate for chairman or vice chairman that Wynn Resorts Ltd. rejected.
The candidate was offered a position on the board, but not the role of chairman or vice chairman, Wynn said in a regulatory filing Monday. The person was identified only as a former Fortune 500 chief executive officer with extensive experience in the casino business. Elaine Wynn said the individual wasn’t a close associate of hers and that she had no agreements over direction of the company.
Elaine Wynn, the former wife of longtime CEO Steve Wynn, has been trying to reshape the board since her ex-husband stepped down in February. Steve Wynn was accused of sexually harassing multiple female employees, charges he denied. She successfully knocked one board member off the board by mobilizing shareholders ahead of the annual meeting in May.
In the latest filing, Wynn repeated an earlier request to have the entire Wynn Resorts board face election every year. She also urged the company to seek outside counsel in negotiating the separation of former General Counsel Kim Sinatra. Elaine Wynn suggested the termination could be for cause and that the company could withhold severance payments from Sinatra if she didn’t cooperate with regulatory investigations.
Wynn Resorts, based in Las Vegas, is being investigated by regulators in Nevada, Massachusetts and Macau in connection with the harassment allegations.
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