{"id":83458,"date":"2018-07-10T12:00:23","date_gmt":"2018-07-10T19:00:23","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=83458"},"modified":"2018-07-10T12:50:18","modified_gmt":"2018-07-10T19:50:18","slug":"elaine-wynn-reignites-spat-with-wynn-resorts-board","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/elaine-wynn-reignites-spat-with-wynn-resorts-board\/","title":{"rendered":"Elaine Wynn Reengages in Executive Warfare with Wynn Resorts Board"},"content":{"rendered":"

Elaine Wynn\u2019s feud with the Wynn Resorts\u2019 top brass was rekindled this week, after the board rejected a candidate she proposed for chair or vice-chair.<\/p>\n

\"Elaine
Butter wouldn\u2019t melt: Elaine Wynn has called for the entire Wynn Resorts board to stand for re-election next year and questioned Kim Sinatra\u2019s right to severance pay. (Image: Brian Bedder\/Getty)<\/figcaption><\/figure>\n

Wynn became the company\u2019s biggest shareholder after her ex-husband, Steve Wynn, resigned and sold his equity in the wake of sexual misconduct allegations. She has since clashed repeatedly with the board on which she once served, but which ousted her in 2015.<\/p>\n

Wynn mentioned the rejection of her candidate in a filing to the Securities Exchange Commission (SEC) on Monday. While she did not reveal the candidate\u2019s identity, sources who spoke to the New York Post<\/em> yesterday claim it was Phil Sartre, former CEO of Caesars Entertainment.<\/p>\n

According to the filing, Wynn agreed to support the board for at least two years if it accepted her proposal but was rebuffed.<\/p>\n

Wynn Power Struggles<\/strong><\/h2>\n

In the aftermath of her husband\u2019s departure, Wynn demanded sweeping changes to the \u201centrenched\u201d board and to corporate governance in a bid to restore the company\u2019s reputation.<\/p>\n

In particular, she called on shareholders to vote not to re-elect John Jay Hagenbuch, whom she considered a Steve Wynn crony. She claimed his loyalty to the disgraced chairman and CEO made him unsuitable as a director and an overseer of the company\u2019s internal investigation into his alleged behavior.<\/p>\n

Hagenbuch resigned on the eve of Wynn Resorts AGM, stating he did not want his candidacy to \u201cdetract from the important progress\u201d the company had made since the allegations surfaced against Steve Wynn.<\/p>\n

Wynn Gets Under Sinatra\u2019s Skin <\/strong><\/h2>\n

On Monday, Wynn demanded Wynn Resorts end its policy of staggered elections every three years, which means the entire board would stand for re-election in 2019.<\/p>\n

She also questioned the $9.5 million severance pay for the company\u2019s outgoing general counsel, Kim Sinatra, who stepped down last week.<\/p>\n

\n

In March, Wynn told a Nevada court<\/a> that she had informed Sinatra in 2009 that Steve Wynn had settled a sexual harassment lawsuit brought against him by a former employee. Sinatra had told it her was \u201cdeemed not to have been an issue of concern for the company, that it had been handled personally, and therefore, it had been resolved,\u201d Wynn claimed.<\/p>\n<\/div>\n

There is speculation that Sinatra\u2019s resignation could have been triggered by Massachusetts gaming regulators\u2019 investigation<\/a> into Wynn Resorts\u2019 licensing suitability for the for the Encore Boston Harbor, which is currently under construction in Everett.<\/p>\n

Wynn urged the Board \u201cto consider whether the company should take the position that this (departure) is a \u2018for cause\u2019 termination,\u201d which would preclude Sinatra from severance pay.<\/p>\n","protected":false},"excerpt":{"rendered":"

Elaine Wynn\u2019s feud with the Wynn Resorts\u2019 top brass was rekindled this week, after the board rejected a candidate she proposed for chair or vice-chair. Wynn became the company\u2019s biggest shareholder after her ex-husband, Steve Wynn, resigned and sold his equity in the wake of sexual misconduct allegations. She has since clashed repeatedly with the […]<\/p>\n","protected":false},"author":36,"featured_media":83460,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,18,1],"tags":[],"acf":[],"yoast_head":"\nElaine Wynn Reengages in Executive Warfare with Wynn Resorts Board<\/title>\n<meta name=\"description\" content=\"Elaine Wynn continues power struggle with Wynn Resorts board, after it rebuffed her attempt to install Phil Satre as chair vice chair. 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In response she called for the entire board to stand for re-election next year and questioned Kim Sinatra\u2019s severance pay.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/elaine-wynn-reignites-spat-with-wynn-resorts-board\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-10T19:00:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-07-10T19:50:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/07\/elaine.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1520\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/elaine-wynn-reignites-spat-with-wynn-resorts-board\/\",\"url\":\"https:\/\/www.casino.org\/news\/elaine-wynn-reignites-spat-with-wynn-resorts-board\/\",\"name\":\"Elaine Wynn Reengages in Executive Warfare with Wynn Resorts Board\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/elaine-wynn-reignites-spat-with-wynn-resorts-board\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/elaine-wynn-reignites-spat-with-wynn-resorts-board\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/07\/elaine.jpg\",\"datePublished\":\"2018-07-10T19:00:23+00:00\",\"dateModified\":\"2018-07-10T19:50:18+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Elaine Wynn continues power struggle with Wynn Resorts board, after it rebuffed her attempt to install Phil Satre as chair vice chair. 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