Elaine Wynn that is, who recently lost a battle to stay on the board of Wynn Resorts Ltd. The former wife of company Chairman and CEO Steve Wynn found herself on the wrong side of a dramatic exit, which had all the elements of a horrible reality TV show attached to it. The way the issue was handled garnered international attention, which left many gaming analytic groups questioning the senior management of the company.
“I have believed all along that this board was better and would be held more responsible for its actions with me as a member of it,” Elaine Wynn said. Although her efforts to remain on the board fell flat in the end, she was happy that so many corporate governance concerns were brought to the surface.
The company released its own statement, which said, “We look forward to expanding the board with one or more qualified, diverse and independent directors by the end of 2015, which is a key step in our ongoing effort to enhance the board’s independence, broaden the skills and experience of the board and increase its effectiveness. We thank Ms. Wynn for her service on the Wynn Resorts board of directors.”
Shareholder Ellyce Rumick attended the recent shareholder meeting that spelled Wynn’s demise, and said, “This has been very upsetting to me, how the board ousted her from the board.” Her comments were met with light applause from a few people in the theater, but on the whole, the board was not on her side.
