In a statement, Hagenbuch said he had decided to step down because he did not want his candidacy to \u201cdetract from the important progress we have made throughout the organization, including the ongoing refreshment process this Board has initiated.\u201d<\/p>\n
“Over the past three months, the Board has done a remarkable job maintaining stability at Wynn and managing through a tumultuous time that could easily have caused much deeper disruption to the company\u2019s business,\u201d Hagenbuch said.<\/strong><\/p><\/blockquote>\n\u201cThere is still more work to be done,\u201d he added.<\/p>\n
While the AGM was scheduled to go ahead today, it\u2019s no dead cert. Last month, Ms. Wynn sued the company to delay the meeting.<\/p>\n
She wanted time to canvass shareholders to help oust Hagenbuch and accused the board of stalling on a request to provide her with a full list of contact details. However, Hagenbuch’s resignation yesterday has removed the main aim of the lawsuit.<\/p>\n","protected":false},"excerpt":{"rendered":"
John \u201cJay\u201d Hagenbuch, the Wynn Resorts director whom Elaine Wynn launched a campaign to oust, announced Tuesday he would not be seeking reelection to the board at the company\u2019s annual general meeting, which was scheduled for today, Wednesday, May 16. Ms. Wynn claimed that Hagenbuch was a crony of Steve Wynn and demanded his removal […]<\/p>\n","protected":false},"author":42,"featured_media":77818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,18],"tags":[],"acf":[],"yoast_head":"\n
Controversial Wynn Resorts Director Jay Hagenbuch Steps Down<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n