Elaine Wynn Pushing for Satre as Chairman
The board of Wynn Resorts has rejected Elaine Wynn’s bid to have gaming industry icon Phil Satre appointed chairman or vice chairman amid signs that their recent battles over the company’s direction and governance are flaring up anew.
Ms. Wynn, the company’s largest shareholder with 8.8 percent of the stock, a holding worth around $1.5 billion, also has renewed her call for the annual elections of directors.
She also is calling for an “independent compensation consultant and truly independent legal counsel” to evaluate whether the departure this week of Executive Vice President and General Counsel Kim Sinatra—who as Steve Wynn’s reputed No. 2 may have played a key role in covering up her boss’s alleged sexual predations